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The Economist Conference Tbilisi Summit was held on November 17th, 2011 at Radisson Blu Iveria, Tbilisi.
As supporting business association, the Georgian Swiss Business Association members - H.E. Ambassador Baechler, AlterGroup Director Nino Ugulava, Glion Hospitality Education Institute Representatives Julia Tokareva and David Horiggan attended the event.
Dougal Thomson, Head of Conference Programs, The Economist Group, welcomed the participants. Georgian Ministry of Finance Dimitri Gvindadze with Asad Alam, The World Bank regional director and Irakli Gilauri, CEO Bank of Georgia discussed Georgia's economic fortunes. As a small country Georgia heavily depends on wider global economic trends.
Panel of experts assessed the world economy, GDP growth, inflation, currency rates, and consumer demands. Minister of Economy and Sustainable Development, Vera Kobalia, with USAID and EBRD mission directors, outlined the emerging opportunities in Tourism, Agriculture,Industry sectors.
Georgian Prime Minister, Nika Gilauri who returned from Germany mentioned, that country should change the economic focus from Europe to Asia, as result of the EU financial reforms. He mentioned that governmental priorities in 2011-2012 are FDI increase, reduced current account deficit, diversification of the trade, energy, investments. Major focus remains on fighting corruption, reducing unemployment, exporting electricity.
As conclusion, in the final part of the conference bilateral relationships between Georgia and Russia were discussed. Secretary National Security Council, Giga Bokeria,Senior Associate Carnegie Endowment, Tom de Waal, Free Democrats Party Leader, Irakli Alasania, and The Economist Moscow Correspondent Arkady Ostrovsky expressed their opinion how to normalize relations between countries, why political desicions matter to business and financial conditions. Irakli Alasania mentioned, that rule of law for everyone in Georgia,Independent mass media, transparent political TV shows in major broadcastings are crucial for Georgia's further democratic development. The Networking reception was arranged for the conference participants in Japanese Embassy by Alcatel-Lucent..