Located in Eurasia along the eastern banks of the Black Sea, Georgia shares borders with Turkey, Russia, Azerbaijan and Armenia. It lies within the shortest transit route between Western Europe and Central Asia for transportation of oil and gas, as well as dry cargo. Georgia’s oil and gas pipelines, well-developed railway systems, and three Black Sea ports together with its four international airports, are playing an increasingly important role in linking East and West. Although Georgia’s population is only 4.5 million, the country is a bridge connecting several important economic regions with a total population of 827 million, including the European Union, Commonwealth of Independent States, Turkey, and the Caucasus Region.

Since emerging as an independent state in 1991, Georgia has made significant social reforms resulting in extraordinary economic progress. From 1994 to 2010 GDP increased from US$6.5 billion to US$22.5 billion, growing at an average annual rate of 8.1%. Aided by foreign investment and prudent government spending, Georgia sustained double digit GDP growth in 2006 and 2007; and domestic private consumption increased over 220% to US$9.3 billion from 2003 to 2008. However, following the global financial crisis and a border struggle with Russia, foreign direct investment has declined. Nevertheless, Georgia has remained resilient and posted 6.4% GDP growth in 2010, with over 5% projected for 2011 and 2012 GDP growth.

The country’s competitive tax regime, efficient regulatory framework and low-cost business environment provide a solid foundation for growth of foreign trade and foreign direct investment. The government’s progressive, pro-business attitude and strong commitment to the private sector have already facilitated significant development, including land and sea trade logistics, industrials, mining, financial services, tourism and energy. Globally, Georgia ranks 12^th in ease of doing business, according to the World Bank’s 2011 Doing Business survey, and 29^th on the Heritage Foundation’s Index of Economic Freedom 2011, ahead of Norway, Spain, and South Korea.

Supported by an administration committed to infrastructure development, economic diversification and sound fiscal policies, Schulze Global believes that the macroeconomic factors are in place for Georgia to resume its robust and stable economic growth. Furthermore, the country stands to benefit from its highly educated labor force; its strategic location as a gateway between Europe and Asia, and its preferential trade arrangements with the United States, the European Union, Japan and Canada.

Georgia’s primary industries include: steel, aircraft, machine tools, electrical appliances, mining (manganese, copper, and gold), chemicals, timber products, and viticulture. Its primary agriculture products are citrus, grapes, tea, hazelnuts, vegetables and livestock.