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Georgia moving to closed economy model

Business Materials 7 September 2020 18:00
Georgia moving to closed economy model

BAKU, Azerbaijan, Sept.7

By Tamilla Mammadova – Trend:

The Ministry of Environment Protection and Agriculture of Georgia is working on a strategy for the transition to a closed economy model, Trend reports via Georgian media.

“Our country seeks to develop a strategy, concept, program, and list of measures so that the country can move to a closed economy model. This assumes the use of proven technologies. It is also about reducing pressure on the use of raw materials. Most importantly, it means launching products that will be competitive with the rest of the world, "said Solomon Pavliashvili, Deputy Minister of Environment Protection and Agriculture.

Secondly, it means that the amount of waste is reduced as much as possible.

"Most importantly, it is an economic model that creates value through the cyclical use of products. That is, the waste that remains after using the product is subsequently converted into raw materials. The world has proven that this is a model of a sustainable economy," Pavliashvili said.

According to him, the pricing model for products is changing, which will increase the competitiveness of local production.

The third conference on circular economy with participation of the private sector took place in Georgia on Sept.7. The event aimed to accelerate the transition to a circular economy in Georgia and to effectively implement the system.

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