Georgia plans to set up free economic zone in Poti on Black Sea coast in 2007

Georgia Materials 28 December 2006 12:15 (UTC +04:00)

(civil) - Georgia plans to set up free economic zone in Poti on Black Sea coast in 2007, President Mikheil Saakashvili said on December 27.

Saakashvili said while addressing Georgian business circles, that the country made a huge step forward in respect of creation of favorable business climate in 2006, but even more needs to be done to attract more foreign investments next year, reports Trend.

We want to create free economic zone on the Back Sea coast and it will not be an economic zone covering only the port [in Poti]. It will serve for entire region including Samegrelo, Guria and Adjara... This will be a zone with zero bureaucracy… This zone will be linked to a new transport infrastructure including [Baku-Akhalkalaki]-Kars railway, construction of which we plan to launch next year; new airport in Batumi and a new highway, Saakashvili said.

An idea about setting up of free economic zone in Adjara Autonomous Republic was lobbied unsuccessfully by ex-Adjarian leader Aslan Abashidze during the presidency of Eduard Shevardnadze. But the central authorities in Tbilisi were always cautious about the defiant Adjarian leader's ambitions to set up a special economic zone in Adjara.

Saakashvili said on December 27 that free economic zones are effective in the countries where there is a strong government.