Prime Minister Mamuka Bakhtadze’s Take on the Future of Georgia in a Global Market

On September 20, 2018, the Meridian Corporate Council partnered with BP and the Embassy of Georgia to host a discussion on U.S. – Georgia Business Relations. This roundtable provided companies with the unique opportunity to engage with Prime Minister Mamuka Bakhtadze of Georgia.

The Prime Minister highlighted the close partnership of the U.S. with Georgia and emphasized that now was the time to push the relationship to a new level for both countries’ benefits. Prime Minister Bakhtadze gave an overview of Georgia’s recent successes, including drastic tax reforms, high levels of growth, increasing trust in Georgia’s banking system, and concerted investment efforts in human capital. The Prime Minister also stressed the importance of making government more efficient by decreasing the number of ministries in parliament. The biggest accomplishment to date has been Georgia’s heavy and continued investment in infrastructure so that it can facilitate trade between the East and West corridors as well as North and South.

The Prime Minister pointed to a few areas that Georgia could improve upon and emphasized those areas as opportunities for partnerships and cooperation with outside governments and businesses. Some of those opportunities included reforming vocation education, strengthening inclusive growth, and expanding the menu of services the financial sector offers, specifically wealth management. Georgia does not currently have a deep-sea port but plans to by 2029, in the hopes that it will unlock access to new markets and increase trade. The Prime Minister underscored Georgia’s gratitude to the leadership of the U.S. for working together to increase bilateral trade and develop international business.

Additionally, Georgia’s highest priority is to join NATO. The Prime Minister remarked that the country understands that it must be ready to meet all the requirements of NATO to be able to join, as well as the geopolitical implications for the region. However, he stressed that Georgia will continue to not only prioritize, but financially support, the goals outlined in the session. “Democracy should deliver results to its citizens,” the Prime Minister said, crediting Georgia’s success to the support of its citizens.

Prime Minister Mamuka Bakhtadze and Ambassador Holliday. Photo credit: courtesy of the Government of Georgia.

Kenneth Angell, OPIC Managing Director, and Ilya Bourtman, BP’s Senior Director of International Affairs, enjoy the discussion facilitated by Ambassador Holliday. Photo credit: courtesy of the Government of Georgia.

Shellie Purvis, Senior Vice President of Cogent Strategies, and Kristin Reif, Director of Government Affairs at Philip Morris International, listen intently to Prime Minister Bakhtadze’s remarks on the state of trade in Georgia. Photo credit: courtesy of the Government of Georgia.

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