Development of local production and import substitution-Georgia's plans for the coming years
The benefits of economic development affected every citizen of the country, which requires the development of local production, the minister said.
The Georgian government plans to make efforts to maintain a high rate of economic growth, Minister of Economy and Sustainable Development of Georgia Natia Turnava said.
Georgia strives to make its products competitive on the world market. Today, the country freely trades with 46 countries. This is about 30% of consumers in the world.
The authorities are negotiating with the United Kingdom, South Korea, the Persian Gulf countries, India and the United States to have a free trade regime with 51 countries by 2025, and with at least 57 countries by 2030. This will be 72% of the world's population.
"As a result, local Georgian products will be globally highly competitive not only in export markets, but also in the domestic market in many directions, and will replace imported ones. At the same time, there is a high potential for self – sufficiency and import substitution of many non-food products," Turnava said.
There are plans to increase the production of building materials so that their share in the local market is 30 instead of 5%.
According to the project of the Ministry of Economy, export volumes will be doubled at least in the next 5 years, and the level of self-sufficiency will increase by at least 20%.
Sputnik-georgia.ru
Tags:
Development of local production and import substitution-Georgia's plans for the coming years
The benefits of economic development affected every citizen of the country, which requires the development of local production, the minister said.
The Georgian government plans to make efforts to maintain a high rate of economic growth, Minister of Economy and Sustainable Development of Georgia Natia Turnava said.
Georgia strives to make its products competitive on the world market. Today, the country freely trades with 46 countries. This is about 30% of consumers in the world.
The authorities are negotiating with the United Kingdom, South Korea, the Persian Gulf countries, India and the United States to have a free trade regime with 51 countries by 2025, and with at least 57 countries by 2030. This will be 72% of the world's population.
"As a result, local Georgian products will be globally highly competitive not only in export markets, but also in the domestic market in many directions, and will replace imported ones. At the same time, there is a high potential for self – sufficiency and import substitution of many non-food products," Turnava said.
There are plans to increase the production of building materials so that their share in the local market is 30 instead of 5%.
According to the project of the Ministry of Economy, export volumes will be doubled at least in the next 5 years, and the level of self-sufficiency will increase by at least 20%.
Sputnik-georgia.ru
Tags:
