The WTO report, along with a policy
statement by the Government, will be the basis for the Trade Policy
Review (TPR) by the Trade Policy Review Body of the WTO.
Prior to the armed conflict with Russia
in August 2008 and the world financial crisis in September, per capita income
rose three-fold, GDP rose by nearly 10% per annum and Foreign Direct Investment
more than doubled to an estimated 17,2% in 2007. But those twin shocks hit many
sectors and dampened economic growth.
Although there has been some
diversification, Georgia’s export structure remains quite concentrated in
traditional products. In agriculture, a sector critical for the economy, labour
productivity is one tenth of that in the rest of the economy and the activity
has registered a decline due to shortage of credit and the small size of land
The report says that continuing
structural reforms will be key to strengthening Georgia’s resilience to shocks,
sustaining growth, attracting investment into export activities and improving
productivity; in short, in developing an enabling environment for export
diversification in terms of both product composition and geographical direction.
The report, along with policy statement
by the Government of Georgia, will be the basis for the first Trade Policy
Review (TPR) of Georgia by the Trade Policy Review Body of the WTO on 8 and 10
The following documents are available in MS Word format.
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Trade Policy Reviews are an exercise, mandated in the WTO agreements,
in which member countries’ trade and related policies are examined and
evaluated at regular intervals. Significant developments that may have
an impact on the global trading system are also monitored. For each
review, two documents are prepared: a policy statement by the
government of the member under review, and a detailed report written
independently by the WTO Secretariat. These two documents are then
discussed by the WTO’s full membership in the Trade Policy Review Body
(TPRB). These documents and the proceedings of the TPRB’s meetings are
published shortly afterwards.
copies of previous TPR publications are available for sale from the
WTO Secretariat, Centre William Rappard, 154 rue de Lausanne, 1211
Genève 21 and through the
TPR publications are also available from our co-publisher Bernan Press, 4611-F Assembly Drive, Lanham, MD 20706-4391, United States.
Schedule of forthcoming reviews
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