Georgian Economy Minister highlights 30% rise in freight turnover across Middle Corridor in 2022

According to Levan Davitashvili, Georgia's Vice Prime Minister and Minister of Economy and Sustainable Development, the Trans-Caspian International Transport Route [Middle Corridor] should continue to be competitive in the long run. He also noted a 30% increase in freight turnover along the Middle Corridor in 2022. At the Middle Corridor International Association conference in Tbilisi, Levan Davitashvili said that to make international players' transportation transit more convenient and appealing, there must be high-level cooperation. 

According to Levan Davitashvili, the Middle Corridor is becoming more important given the present geopolitical situation. In his opinion, cargo turnover from Kazakhstan to Georgia surged by six times in 2022, while it increased by 30% along the Middle Corridor. 

The Middle Corridor International Association is gathering in Georgia for the second time. Railroad authorities from Georgia, Kazakhstan, Azerbaijan, and Turkey attend the summit.

Germany provides EUR 27 million to Georgian energy sector reform

By an agreement reached between Georgia and the German state-owned investment and development bank, Germany will spend 27 million euros to assist in restructuring the Georgian energy industry (KfW). 

The agreement was signed on October 21 by Birgit Holderid-Kress, Head of the KfW Eastern Europe, Caucasus, and Central Asia Department, and Lasha Khutsishvili, Georgia's Finance Minister. 

The Finance Ministry said, "The Georgian government will continue to use the potential of renewable energy, energy efficiency, and market-oriented power with this agreement."

The Turkmen delegation is hosted by the Oil and Gas Corporation

On October 20, Giorgi Chikovani, the Director of the Georgian Oil and Gas Corporation, hosted a delegation from Turkmenistan's commercial and government sectors. The conference was attended by Dovletmurat Muratov, the Ambassador of Turkmenistan to Georgia.

The possibility for future collaboration, Georgia's transit capabilities, imports of oil products, and joint infrastructure projects were discussed at the conference.

Giorgi Chikovani underlined the value of varying our sources of energy. The sides decided to keep working together and improve commercial connections.