March news in TRACECA countries, 2025

Georgia and Azerbaijan have asked the European Commission to grant the Black Sea Energy power line project - Project of Mutual Interest (PMI) status in order to accelerate the construction of an undersea cable that will export electricity to the EU. The undersea cable will allow EU member states to receive electricity from the Caspian basin. The Black Sea power cable, which costs €3.5 billion, will be able to transmit up to 4 gigawatts of electricity annually, a significant part of which will be generated from renewable sources. In addition, Baku is working with Kazakhstan and Uzbekistan on a Caspian Sea power line project that could be integrated with the Black Sea cable to facilitate the export of “green” electricity from Central Asia to the EU.

Bulgaria will also join the Black Sea submarine cable project. On March 11, a plenary session of the Green Central Corridor Ministerial was held in Budapest with the participation of high-ranking representatives of the governments of Georgia, Hungary, Romania, Bulgaria and Azerbaijan, where the main directions of strategic partnership in the field of development and transmission of green energy were discussed. It was at the ministerial that the above-mentioned decision was made.

Vakhtang Alania, Director of “Sofmar Georgia”, says that a new type of cargo, ore, has arrived from Central Asia, which was transported from Tajikistan to the port of Poti by order of a Swiss company. He made this statement at the 5th International Exhibition and Conference of Black Sea Ports and Shipping. Vakhtang Alania noted that the process was difficult, but it was successfully completed, which showed that it is possible and aroused interest, including from European companies.

Ukraine is ready to ratify a free trade agreement with Turkey, which will take place during the upcoming visit of Recep Tayyip Erdogan. President Volodymyr Zelenskyy said this on Thursday in Kiev during a meeting with a delegation of Turkish business and government representatives.

Natia Turnava, President of the National Bank of Georgia, participated in the international event “Beyond Blockchain” held in the Swiss city of Lugano. The main topic of the meeting was the discussion of technological innovations in the banking, finance and business sectors. Natia Turnava also spoke about the development of fintech business models and the importance and priorities of approximation with EU regulations in terms of financial technologies.

In 2024, Georgia received $97.4 million in foreign direct investment in the transport and warehousing sector. According to Geostat, the largest FDI in this sector during the reporting period came from neighboring Azerbaijan. Turkey is in second place with $17.5 million, and the United Arab Emirates is in third place with $16.4 million. At the bottom of the five are Switzerland and the United Kingdom, with FDI of $6 and $5 million, respectively.

In January-February 2025, a total of 70,000 international transit trailers crossed Georgia. Compared to the same period in 2024, the number of transit trailers, as well as income from transit services, decreased by 10%.

About 130 companies operate in the Tbilisi FIZ. The existing buildings are 100% occupied. The Tbilisi FIZ has been operating since 2016, although Zotye Holding completed the acquisition of the Tbilisi FIZ in April 2023. Zotye Holding is a company founded by Georgian and foreign businessmen.

According to the Armenian Foreign Minister, among the specific agreements reached with Turkey, it can be noted that we have started bilateral works on border infrastructure. Armenian and Turkish experts are already studying the condition of the Gyumri-Kars railway. These processes are already underway.

Tbilisi Logistics Center begins construction of the third Class A warehouse on the Gezi (CCZ) territory. Last year, Tbilisi Logistics Center launched a large-scale project on the Gezi territory, which consists of several phases. The first phase of the project, a Class A customs terminal on an area of ​​​​6,300 square meters, is already operating at full capacity.

Georgia and Uzbekistan have agreed to implement joint projects in the innovation sector. Deputy Minister of Economy and Sustainable Development of Georgia Irakli Nadareishvili and First Deputy Minister of Higher Education, Science and Innovation of Uzbekistan Shahrukh Daliev signed an action plan on cooperation in the development of the startup ecosystem. The signing took place within the framework of the working visit of the Georgian delegation to Uzbekistan.

Info: realpolitika.ge; businessinsider.ge; brg.ge; bm.ge; commersant.ge; bp.ge; ge.armradio.am