Iza NATELAURI

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Iza Natelauri, D.Sc. (Econ.), head of the Microeconomics Department, Paata Gugushvili Institute of Economics, associate professor, Ivane Javakhishvili Tbilisi State University (Tbilisi, Georgia).

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GEORGIA’S EXTERNAL SECTOR: CURRENT STATE AND PROBLEMS

ABSTRACT

During the transformation of Georgia’s economic system, when politics has absolute priority over economics, the external sector performs a universal function and operates as an independent factor contributing to the balanced development of the country’s economy. Such are the questions examined in this article.

Introduction

In the economic reality of modern Georgia, the most difficult and vitally important problem is how to optimize the performance of the country’s external sector.

The current importance and difficulty of this problem is due to a number of circumstances: first, the sphere of foreign economic relations, compared to other areas of the economy, is more (and in some cases totally) politicized. Second, the very subject of investigation—the external sector—is extremely multifaceted: (1) it has macroeconomic and microeconomic aspects; (2) it includes trade in goods and services; (3) foreign economic relations are maintained within the framework of individual enterprises (joint ventures) and in certain territories (special economic zones), on a bilateral basis (cooperation between partner countries), within integration groupings, and………….

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