Home / Knowledge / News / Textiles / Investments in Adjara to accrue with increasing trade
Investments in Adjara to accrue with increasing trade
07
Apr '08
Turkish investors are banking on Adjara for numerous reasons that stand in advantage to the overall development of the country.

Adjara, an autonomous republic of Georgia, in southwestern corner of the country offers a lucrative trade prospect with its increasing purchasing power, cheap input costs and strategic importance.

This apart, energy prices in Adjara is less than half of the price prevalent in Turkey and further, discount opportunities are also catered to prudent investors. Again, the Government offers land to investors together with a reduction in tax rates and cheap availability of labor force.

Most importantly, the region is a door to Russia and Caucasus making it all the more irresistible to Turkish entrepreneurs whose trade with Adjara has already reached US $250 million. Presently some 60 Turkish companies are active in the area while another 20 are seeking representation.

During discussions held with the Turkish Exporters' Assembly (TIM) in Adjara, head of the autonomous republic stated that trade with Turkey has increased 10-folds in the last four years.

Adjara was subject to dictatorship for nearly 13 years after which the country set out afresh with zero economy. Turkey provided enormous support to the country during this critical phase. Turkish investment in the region is expected to reach $500 million in three years time.

Textile and agriculture have emerged as the two most vital areas for Turkish investors. Presently, there are five Turkish factories in the region and another two are under construction. Besides, the BTM factory in the capital, which started operating in September with an investment of $10 million, employs some 500 Georgians.


Must ReadView All

Courtesy: Trinity Kubassek from Pexels

Textiles | On 19th Aug 2018

Australian wool production to fall 5.7% in 2018-19

Shorn wool production in Australia is likely to fall by 5.7 per cent...

Courtesy: Next Level Apparel

Apparel/Garments | On 19th Aug 2018

Blue Point Capital recapitalises Next Level Apparel

Blue Point Capital Partners has recapitalised Next Level Apparel, a...

Retailers approaching 100% inventory accuracy: Study

Apparel/Garments | On 19th Aug 2018

Retailers approaching 100% inventory accuracy: Study

With computer vision use cases maturing, Artificial Intelligence (AI) ...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Johan Berlin
Investkonsult Sweden AB

Investkonsult Sweden AB are consultants in the nonwoven and absorbent...

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search