Silk Road Digest | 17 Oct 2026

2026-10-17

France-Georgia Economic Partnership

In an interview with *Business Insider Georgia*, the French Ambassador to Georgia, Olivier Brochet, discusses the dynamics of economic relations between the two nations and future prospects for cooperation. He notes that bilateral trade turnover reached 313 million euros; however, attracting new French investment remains a challenge. The Ambassador attributes the interest shown by French companies to Georgia’s strategic location and the potential of the "Middle Corridor," while also noting that some firms have adopted a "wait-and-see" approach regarding investment decisions. Key areas for cooperation include transport and logistics infrastructure, energy, water supply, waste management, and agriculture. The interview also touches upon the potential involvement of French companies in projects such as the Vaziani Airport, the expansion of Georgian Railway’s capacity, and the Black Sea submarine cable project. According to the Ambassador, strengthening confidence in the business environment and developing cooperation between the two countries will facilitate the deepening of their economic partnership.

Trade Relations Between Georgia and Uzbekistan

During the 11th meeting of the Intergovernmental Commission on Economic Cooperation, Georgia and Uzbekistan discussed deepening trade and economic relations and promoting investments. The parties identified increasing bilateral trade—with a goal of reaching a trade turnover of $1 billion in the near future—as a priority. Special attention was paid to the transport and logistics sector, including the role of the Anaklia deep-sea port and the development of the Middle Corridor.

Insurance Costs for Vessels in the Black Sea Have Risen

The cost of insuring oil tankers in the Black Sea has increased from $200,000 to $2.5 million, exerting upward pressure on oil transportation costs and fuel prices. This price increase is linked to rising maritime security risks. On October 6, attacks within Bulgaria’s exclusive economic zone resulted in the sinking of one vessel and damage to another. Meanwhile, insurance premiums for ships have risen from 0.1% to 0.5% of their value over the past two weeks and could potentially reach 1%.

Georgia on the Development of the Middle Corridor

Georgia is prepared to cooperate with Kazakhstan and other partners to ensure that the Middle Corridor functions as a unified, efficient, and competitive transport system. This was stated by Tamar Ioseliani, Deputy Minister of Economy and Sustainable Development, in Astana, during a meeting of transport ministers from member countries of the Trans-Caspian International Transport Route. According to her, fully realizing the corridor's potential requires the coordination of infrastructure investments, the improvement of throughput capacity, and the strengthening of cooperation among the participating nations—all of which will facilitate regional trade and the attraction of investments. Railway Restoration Continues in Nakhichevan

Azerbaijan is continuing the restoration of a 194-kilometer railway line in Nakhichevan. Meanwhile, Armenia is considering the rehabilitation of its own railway near the Nakhichevan border, as well as the development of connections toward Kapan and Meghri. Furthermore, the Armenian government has established a working group to review the terms of an existing 30-year concession agreement with Russian Railways—a matter also linked to the state of the country’s railway infrastructure.

Expansion of Poti Port Awaits a Decision

Technical aspects of the $300 million expansion project for the Port of Poti have largely been agreed upon; however, a final decision has yet to be reached. According to Zviad Chkhartishvili, head of administration at APM Terminals Poti, negotiations with the Ministry of Economy are set to resume by the end of the year. Concurrently, efforts to streamline customs and border procedures are aimed at increasing the port’s throughput capacity.

TRACECA and Bulgaria Develop Black Sea Logistics Links

On October 5–6, TRACECA Secretary General Jasurbek Choriev met with Bulgaria’s Minister of Transport and Communications, Georgi Peev, as well as heads of relevant agencies, in Sofia, Burgas, and Varna. The discussions covered the modernization of the deep-water ports of Varna and Burgas, the doubling of capacity for road and rail infrastructure toward Turkey, permit quotas, digitalization, and the development of the ferry connection in Varna.

TRACECA.GE

 

Sources:
businessinsider.ge; commersant.ge
bm.ge; traceca-org.org