Statistics specialist Soso Archvadze considers completing the last phase of the Southern Gas Corridor project, the Trans Adriatic Pipeline, and Georgia's involvement in natural gas services as the most important economic event of 2020. According to him, this has led to a significant breakthrough in Georgia's foreign relations, which is of great benefit to both the economic and political security of the country and has a great positive impact on the image of Georgia.
"Natural gas moves through the territory of Georgia in the direction of Turkey and Europe. This is considered as the international service, the revenues from which serve to improve the trade balance, more than 1 billion cubic meters will remain with the passage of this gas to Georgia," Soso Archvadze told report.ge.
He also considers the increase of competitiveness of Georgian products and new opportunities in foreign trade as a guarantee of progress in economic relations.
"The competitiveness of local products is growing. Last year it was noticeable, and I would like this trend to be maintained in 2021 as well. In addition, China does not refuse to act as a world hub. The temporary lockdown due to the covid-19 is over, and the country came out stronger after it. China focuses on producing more high-tech products and refuses to process low-cost raw materials and waste. A substantial change in this direction in the chain of world trade relations in 2021 is not expected. The US administration's formation is an important step, but the situation will not be worse than it is at this stage. If the Biden administration comes to power, the economic ties between China and the United States will be further strengthened and will positively impact world trade and economic relations, on Georgia as well," Soso Archvadze said.
As for the important event of the year, gas supply from the Shah Deniz Gas field to the EU has started. The corridor includes the development of supply routes to the South Caucasus and Turkey for the supply of natural gas from the region to Europe.
