PM says country's strategic location, serving as natural bridge between Europe, Asia, makes Georgia “shortest” route between East, West

Georgian Prime Minister Irakli Kobakhidze on Wednesday said the country's strategic location, serving as a natural bridge between Europe and Asia, was making Georgia the shortest route between East and West.

In his speech at the United Nations General Assembly session, Kobakhidze stressed Georgia was a key player in the regional and broader Eurasian context.

“Georgia’s strategic location, serving as a natural bridge between Europe and Asia, makes Georgia the shortest route between East and West. With our sea access and strong relations with China as well as Central Asian countries, Georgia is a key player in the regional and broader Eurasian context. We are a hub not only for the exchange of goods, but also for energy transit and much more. Georgia ensures that seven landlocked countries of the South Caucasus and Central Asia are connected with the rest of the world via our port infrastructure, which we are committed to further developing with the soon-to-commence Anaklia Deep Sea Port Construction.

If we look at the political map, Georgia is the single safest and most reliable transit route to ensure the timely and efficient movement of goods and services. Our commitment to maintaining and enhancing our role as a reliable transit corridor ensures we are able to support our strategic partners in Europe with their energy security needs. By diversifying supply routes and investing in robust infrastructure, Georgia can offer additional predictability in East-West connectivity, especially within the framework of the Middle Corridor Initiative.

As we all know, the last couple of years have brought significant challenges. Despite these multiple tests, Georgia has demonstrated remarkable resilience to such external shocks. Our average annual economic growth since 2021 has been 9.7 percent. Thanks to strong macroeconomic fundamentals and fiscal discipline, the government debt and fiscal deficit declined to 39.3 percent and 2.5 percent, respectively. Additionally, Georgia has maintained one of the lowest regional inflation rates, further showcasing its economic stability.

Despite significant economic improvement and cutting the poverty rate in half over the last 10 years, further reducing poverty and inequality is at the heart of Georgia’s socio-economic development agenda. In 2023, the employment rate showed significant improvement, coinciding with an increase in the labour force participation rate. The positive trend continued in the first half of 2024 as well, when the unemployment rate decreased to a record low of 13.7 percent”, the Government head told the General Assembly.