§ Lord Biffenasked Her Majesty's Government:
What has been the trend in Anglo-Georgian trade since 1996; what are the prospects for improvement; and whether Export Credit Guarantee cover will be made available for this business. [HL1104]
§ Lord Sainsbury of TurvilleThe level of UK Trade has grown since 1996 as set out in the table below.
Georgia 1996 1997 1998 1999 2000 UK imports (£m) 0.579 1.257 3.222 3.67 14.22 UK exports (£m) 3.784 12.10 20.991 14.68 12.20 Total trade (£m) 4.363 13.357 24.113 18.35 26.42 Georgia remains a relatively small market for UK goods. The outlook for trade with Georgia will depend on the economic situation and continued reform in the country. If the Baku-Tblisi-Ceyhan oil pipeline from Azerbaijan were to proceed, this would be likely to increase the level of UK goods and services to Georgia.
ECGD medium/long term cover is not currently available for Georgia. ECGD continues to monitor developments in the economy.