Giorgi Kacharava, Executive Director of EU-Georgia Business Council, took part at the EU4Business General Assembly 2019 held in Brussels on June 28.

The European Union’s EU4Business initiative is an umbrella initiative that covers all EU activities supporting SMEs in the Eastern Partnership countries.

EU4Business includes 43 projects in the Eastern Partnership region, implemented both on a regional and bilateral level. The overall active portfolio amounts to almost €320 million of EU support under EU4Business, and has triggered a total of more than €1.96 billion of loans granted by partner banks to SMEs in the region.

The purpose of the Finland-Georgia Business Association is to promote trade relations and investments, as well as, to contribute to the economic interactions between Finland and Georgia. Its members hold extensive knowledge of the operation and characteristics of the economic regions of Finland and Georgia.

Members of the association are companies, individuals and partner organizations. Through the networking from they are able to find a professional partner for the markets in both countries.

The Association equally welcomes both experienced businesses and start-up companies. 

Executive Director of EU-Georgia Business Council, Giorgi Kacharavatook part at the 6th EaP Business Forum, held in Bucharest on June 25, 2019. 
The Business Forum addressed contemporary challenges facing the business world – with a special focus on SME’s and marking the 10th anniversary of the EaP by:
– Stimulating trade and economic cooperation among partner countries and between them and the EU, at governmental and business level;
– Evaluating the results achieved so far in the implementation of the 20 deliverables for 2020 with focus on trade perspective for EU-EaP Partners
– Contributing to the objective related to the improvement of the investment and business environment and unlocking SME’s growth potential in EaP region.

In this issue 👉 Mgaloblishvili Kipiani Dzidziguri (MKD) Newsletter March-April, 2019

Legal news:

  • New rules for Georgian pharmaceutical market;
  • New regulation for the persons holding the status of a special enterprise;
  • Agro Insurance Programme has been approved;
  • Decree N163 of the government of Georgia on approval of state program on credit guarantee scheme;
  • The National Bank of Georgia approved Cybersecurity Management Framework for commercial banks;
  • The National Bank of Georgia approved the regulation on net stable funding ratio (NSFR);
  • Tbilisi land use master plan has been approved;
  • New regulations about alcoholic beverages.

Business news:

  • Georgia’s sovereign credit rating has been improved;
  • Double taxation avoidance deal between Georgia and Saudi Arabia becomes effective.