Thursday, November 28, 2013

Government cautions about reliability of Russian market

28.11.2013 (Hvino News) Minister of Economic Development Giorgi Kvirikshvili recently stated that the Georgian business should not rely on the Russian market. The minister said that after initialing of the agreement with the European Union there are theoretically economic risks from Russia. The government warns the business community that the Russian market is not 100% reliable.

The Georgian businessmen interviewed by Commersant radio largely agree with the statement about the risks on the Russian market. Schuchmann Wines Georgia's director Nutsa Abramishvili explained  that the association agreement with the EU will promote the development of wine making, and relations with the Russian market gave companies some experience. During the Russian embargo period Schuchmann  carried out diversification activities. In her words, each market should be treated with caution because there is a danger of potential risks. With regard to a possible pressure from Russia, Schuchmann Wines's head said that risks are more long-term, because the association agreement takes a number of procedures and long time.

According to Tbilivino's director Giorgi Margvelashvili, Western Europe is marked by a greater stability, while certain  risks exist in all the post-Soviet countries. Noting that Ukraine, Russia, Belarus, Kazakhstan are the countries where Georgian wine is more famous, he said that for some periods crises are observed in these markets as well. He added that Tbilvino is trying not to become excessively dependent on Russian market and if before the embargo 50% fell on exports to Russia, today the figure is only 20%.

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