CAREC in Georgia
Georgia joined CAREC in October 2016 and has since been an active member in all CAREC-related events, including hosting the CAREC Senior Officials’ Meeting in June 2017 . Given its geographic location at the crossroads of Europe and Asia, and past reforms in customs and trade facilitation, Georgia has the potential to develop into an important transit corridor and nodal point for regional trade flows.
The new CAREC 2030 strategy is in full alignment with the priorities set out in the Socio-economic Development Strategy of Georgia (Georgia 2020) and its Four Point Reform Plan 2016-2020. Georgia 2020 aims at fostering inclusive economic growth by ensuring macroeconomic stability, improving regional connectivity to enhance private sector competitiveness and broaden access to economic opportunities, developing human capital, and increasing access to finance.
Georgia’s Four Point Reform Plan includes education reform as one of the most important priorities, in the belief that an insufficiently qualified labor force is the biggest obstacle to doing business. It also refers to governance reform, infrastructure plans, and new tax system.
As of 2021, the CAREC Program has invested more than $2.91 billion in Georgia.