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Georgia's president notes progress despite Russia's embargo

Georgia Materials 14 December 2006 11:56 (UTC +04:00)

(civil) - President Saakashvili reiterated on December 13 that despite Russia's economic embargo, Georgia is moving forward towards economic growth.

The Georgian leader made remarks while touring western Georgia to attend opening of some new enterprises in Tskaltubo, where a vegetable packaging factory was set up, Kutaisi, where a new branch office of ProCreditBank was inaugurated and Kobuleti, where fruit processing factory was established, reports Trend.

Before Russia imposed an embargo against Georgia, 85% of this product [greens] was exported to Moscow. Our traditional consumers lost the opportunity of receiving Georgian greens. Instead, we have found a new market for this product in Europe. From now on, we will supply our greens to the Europe...If the Europeans taste our Georgian greens, I doubt that we will have enough greens for another markets, Saakashvili said in Tskaltubo.

In Kutaisi Saakashvili said that expectations were high that Georgia's credit rating would have fallen after Russia's embargo, but Georgia managed to maintain a positive credit rating, that means allocation of further investments.

Later on the same day, President Saakashvili said in Kobuleti, Adjara Autonomous Republic, that the country managed to establish two new fruit processing factories recently which is a response to attempts to suffocate our economy.

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