On June 11, 2014, ISET hosted Douglas H. Brooks, the Assistant Chief Economist of the Asian Development Bank's Economics and Research Department. He presented Georgia’s main trade statistics and discussed the benefits to Georgia from global value added trade.
Georgia’s participation in international trade has continually increased over time. This could be a positive sign. The Asian Development Bank has estimated that Georgia’s trade openness contributes 2-3% to its economic growth. However, in 2009 there was drop in both import and export levels for two reasons: the Russia-Georgia war and the global recession. Dr. Brooks also pointed out that Georgia’s product baskets and trading partners are sufficiently diverse in contrast with its neighbors (for example, Azerbaijan, where trade is mainly based on oil and gas).
On May 22, ISET hosted Mamuka Khazaradze, Chairman of the Supervisory Board of TBC Bank, who talked about the story of his success in business, particularly the establishment of TBC (Tbilisi Business Center) Bank in Georgia.
He started his presentation by talking about his early years when, despite being young without enough experience in business or skills in diplomatic negotiations, he had a huge desire to develop his own business and to help his family financially. Mr. Khazaradze made his first real money selling cans of beer. At the time, this was a new product for post-Soviet countries and the demand was enormous. He managed to find some suppliers and made his first big deal by reselling cans of beer in St. Petersburg.
ISET will be offering an exciting new course in the 5th mini-term - “Corporate Finance Applied to a Developing Economy.” The course will be taught by Paul-Henri Forestier, former Director of the European Bank for Reconstruction and Development in Georgia.
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