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Economy

Georgia-Hong Kong Free Trade Agreement Takes effect

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Georgia-Hong Kong Free Trade Agreement was signed on June 28, 2018, in Hong Kong inside the framework from the One Belt- One Road summit.

The purpose of the agreement could be to determine the the free movement of your goods between Georgia and Hong Kong C the Special Administrative Region with the People\’s Republic of China in addition to promote trade of services. The brand new generation agreement between parties also covers such topics as promotion of customs and trade, intellectual property rights, technical barriers to trade, sanitary and phytosanitary measures, etc.

Georgia is the first country in your neighborhood with whom Hong Kong has signed a zero cost trade agreement. The agreement increases understanding Georgia, its business climate and promote trade and investment flows between Hong Kong and Georgia.

Hong Kong conducts open economic policy to represent among the largest key transnational financial centers of the world.

Enactment of the Agreement will facilitate the increase in the trade turnover between your parties and provides Georgian entrepreneurs chances introducing a few and services without additional bureaucratic barriers into a 7-million consumer market.

Economy

Quantity of Hired Employees Exceeded Quantity of Self-Employed People Recently

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In line with Mikabadze, that the amount of employed workers exceeded the sheer numbers of self-employed people and share with the overall quantity of employment equaled to 50,8%, ?indicates the increase in the amount of jobs generated from the productive sectors of economy.

\”The lessing of the unemployment rate has resulted in stable economic indicators which were observed within the recent times in Georgia in line the decreased rate of economic increase this particular region. It is crucial that the unemployment rate has reached the lowest mark within the last Many years. Unemployment is decreased both among women and men,\” C Ekaterine Mikabadze said.

According towards Deputy Minister, the unemployment rate among men has decreased by 1,1% totaling to 13,9%, while among women the cell number was decreased by 1,5% and equaled to 11,2. Normally, the number of unemployed in 2018 was decreased by 30,7 thousand people plus the range of employees amounted to ?245,7 thousand person.

According to Ekaterine Mikabadze, the amount of employees in 2018 decreased by 12,4 thousand and 1694,2 thousand. \”A small decline in how many employed people as a result of a decrease in how many self-employed people, and also the quantity of employed workers significantly was increased by 35,9 thousand and amounted to 860,2 thousand people. How many self-employed people was decreased by 48,2 thousand and equaled to 833,4 thousand persons,\” C the Deputy Minister noted.

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Economy

Competition on Borjomi Park concept Announced

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Based on the official documentation, the concept includes: long-term vision with the development of Borjomi Central (historical) park, upkeep of historical-cultural function – development; Expansion of park’s perspectives; Growth and development of recreational function; Upkeep of the diversity of flora, if needed, add new species; Landscape design visions; Arrangement of paths, attractions and logistics.

Competition involves 2 stages. Applications is going to be completed on March 15. Inside first stage, the jury will select the best projects. Next the 3 winners shall be revealed by their involvement and public participation. Your second stage will end on April 5.

“Anybody or group playing competition may present the repair in?Borjomi municipality.

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Economy

237.5 So many Georgian Citizens are Unemployed

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In 2018 the annual unemployment rate decreased by 1.2 percentage points compared to 2017 and amounted to 12.7 percent.

It must be noted how the downtrend inside the unemployment rate is maintained in the last nine years, furthermore in 2018 unemployment rate reached the minimum level over the past 15?years.

In IV quarter 2018 economically active population constituted 63.6 percent from the working age population (population aged 15 and older). In comparison to the previous quarter, the efficient?activity rate and employment rate decreased by 0.7 percentage points. The employment rate in?urban settlements decreased by 0.2 percentage points compared to the previous quarter plus?rural settlements – 1.3 percentage points. As compared to the previous quarter the commercial activity?rate in rural settlements decreased by 1.6 percentage points, when it\’s in urban settlements remained?unchanged.

Traditionally, the unemployment minute rates are higher for males than women. In IV quarter 2018 the indicator was 2.6 percentage points higher for men when compared to the corresponding indicator for girls.

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