Foreign trade of Georgia in the context of the development of integration processes

Abstract

The article researches the development of foreign trade in goods of Georgia in the context of the country's participation in international integration processes from the mid-1990s to the present. The evolution and features of Georgias participation in such integration organizations and projects as the Commonwealth of Independent States, GUAM, the Eastern Partnership of European Union, as well as interaction with the countries of the Eurasian Economic Union are examined. Based on a detailed analysis of the dynamics, commodity and geographical structure of Georgias foreign trade in goods in the long term period, the article substantiates the conclusion that the participation of Georgia in the Free Trade Agreements, as well as trade liberalization carried out in integration blocks, have practically no effect to change the exportimport flows of the country, and do not lead to an increase in foreign trade with the member countries of the integrations. The most significant factors that determine Georgias foreign trade and its trends are the country's geographical location and the level of the transport infrastructure development, the implementation of large-scale transport and logistics projects in the region, external financing provided to the country by international and regional organizations, foreign countries, on a credit and grant basis.