2018 brought a new wave of initiatives aimed at deepening bilateral relations in the field of economic cooperation. U.S. private sector engagement has increased in Georgia and in the region, bringing collaboration on the largest projects in the country, including the Anaklia Deep Sea Portdevelopment on the Black Sea, the PACE Terminal construction and operation in Poti and the Establishment of the American Hospital in Tbilisi.
Georgia’s stability and economic growth highlight the country’s potential to evolve into a major regional business hub located at the center of the new Silk Road. Ranked 16th in the Index of Economic Freedom by the Heritage Foundation, 6th in the World Bank’s Doing Business ranking and enjoying preferable trade regimes with countries representing more than two billion people(including China, the EU, Turkey and Central Asian countries), Georgia is solidly advancing towards becoming a regional gateway for commerce.
Georgia continued to advance its cooperation with the U.S. Executive and Legislative branches towards strengthening bilateral trade relations, paving the way towards closer commercial ties between the nations. Strong bipartisan support was voiced through the letters, statements and the initiatives of U.S. congressmen supporting the possibility of a Free Trade Agreement between the United States and Georgia.
Since Georgia regained its independence in 1991, the U.S. has been a major partner in helping Georgia deepen its Euro-Atlantic ties and strengthen its democratic institutions. In May of 2018, Georgian Embassy, in partnership with the U.S. Institute of Peace and The Heritage Foundation hosted the 2nd Annual U.S.-Georgia Strategic Partnership Conference: 100 Years since the First Republic. The conference emphasized the importance of the bilateral relations between the United States and Georgia and placed an emphasis on exploring possibilities for the further strengthening of ties between the two nations. U.S. decision-makers, experts, scholars, and journalists focused on trends and challenges, and explored opportunities from a regional and international perspective.
Emphasizing the importance of trade and transportation routes between Asia and Europe the Georgian Embassy in partnership with the Embassies of Afghanistan, Azerbaijan, Kazakhstan, Turkey, Turkmenistan, Uzbekistan, the Caspian Policy Center and the U.S. Chamber of Commerce hosted the3rd Annual Trans-Caspian Forum. Policy and Business leaders from the United States as well as the representatives of the Trans-Caspian countries discussed the economic and transportation potential of the region and underlined the importance of strengthening the transportation routes between East and West, fostering increase in trade, commerce, investment and security.
The Overseas Private Investment Corporation (OPIC) has selected a new project to finance in Georgia which will receive fifty million dollars for the development, construction and operation of the multifunctional marine terminal at the Port of Poti — PACE Terminal, developed by the Pace Georgia Limited.
The Embassy intensified targeted visits to different states in order to further increase cooperation with local governments and representatives of the business community as well as explore new initiatives for collaboration in the innovation, technology, manufacturing, agriculture and other fields. California, Washington, Massachusetts, Oklahoma, Louisiana, Texas, Virginia, Maryland, New York, Pennsylvania, Illinois, North and South Carolina and Florida were among the targeted states in 2018. The outreach has resulted in successful engagement of 6–7 projects with the cumulative investment amount of over 150 million dollars.
Embassy of Georgia also supported the implementation of the 1st Vino Forum of the United States in Washington D.C., which aimed to further advance the understanding of the origin of wine, the historical geopolitical and economic influence of wine for Georgia and in the region and the current role of the Georgian wine sector on the worldwide stage. The three day forum which was organized by the America-Georgia Business Council(AGBC) was attended by over six hundred people, including wine experts, journalists, sommeliers and wine enthusiasts from all over the United States.
