Levan Davitashvili at 21st CAREC Ministerial Conference

Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili took part in the 21st ministerial meeting of the Central Asian Regional Cooperation Organization (CAREC). The conference was held online and was dedicated to the realization of the goals of the CAREC-2030 program.

In his speech, Vice Prime Minister Levan Davitashvili focused on post-pandemic challenges and ways of their overcoming. “Georgia was affected by the pandemic, however, we were able to quickly return the economy to the old path of development, create strong economic foundations for recovery. I am glad to emphasize that the international financial institutions have further increased the forecasts of the economic growth for Georgia. According to the International Monetary Fund, Georgia is to show the fastest economic growth in the medium term (2022-2027) among regional and European countries, with infrastructure spending of 5,6%, inflow of foreign direct investments and structural reforms to increase productivity,” – Vice Prime Minister noted.

Levan Davitashvili also drew attention to CAREC's new post-pandemic framework document, which envisages “green”, sustainable and inclusive recovery of the economy. “It is a framework that allows us to enhance cooperation and productivity across the region through digitization, innovation and investment. This will allow us to be resilient to future challenges, rebuild trade and become stronger, more connected and more inclusive.”

Vice Prime Minister also highlighted that the CAREC 2030 is a very ambitious and comprehensive document that covers all trade and economic areas, which are outlined in special operational clusters. According to Davitashvili, Georgia supports the goals of the CAREC’s integrated trade agenda within Strategy 2030, which aims to help the CAREC members to better integrate into the global economy, ultimately strengthening their growth potential and improve the living standards of the region’s residents.


Ministry of Economy and Sustainable Development of Georgia. © 2021