From the Editor

Jemal Inaishvili

By the end of first quarter and beginning of the second quarter International Monetary Fund published the world economic growth forecasts that seem quite pessimistic.

The indicators are lower compared with the previous year. According to the latest forecasts the world economy will grow with 3, 7%. Previous indicators showed 4.1%. As for December 2007 forecasts it was 4.8%. But the most important fact is that economic growth forecast for 2008 in the US is 0.5%. This is the lowest indicator during the last six years. According to IMF expert Simon Jones, American economy has actually entered a stagnation. Still the biggest economy of the world has not yet entered a recession era. He emphasized that this challenge will negatively effect and even stop the growth of European and Asian states as well as developing countries. What is going on in the world? Is it a formation of new economy or do we enter unprecedented crisis. Which way of development will market choose in the future and what trends should we expect in the world business? These questions refer to all countries, including Georgia. Accordingly we have dedicated the present edition to XXI century new trends. What will a new economy face in the US? You can find Professor Edward Raupp’s article on this issue (pg.26) I would like to inform you that Dr. Raupp has become a member of our editorial board and this is his very first article in our magazine. You can also find my colleague’s, Emzar Jgerenaia’s work on new theory of creativeness, an attempt to make a scientific analysis of theoretical aspects of ongoing economic processes and principles of working out Georgia’s strategy. Besides, we have tried to discuss current economic challenges from the global point of view; you can find Professor Elguja Mekvabishvili’s work on certain aspects of globalization.
Past period was remarkable with Business Forums and Competitions. I believe, while Georgian business faces significant problems due to losing Russian market, arranging a Business Forum in Minsk by Georgian Chamber of Commerce and Industry was quite important. Byelorussia is an interesting market from various aspects. First – Georgian products do not need serious branding on the market of 10 million people. It is popular already. The second – it is very near to Europe and the Baltic States that will support our products on these markets and to some extent may help us to enter Russian market. The business forum was quite successful and full of events. You can find its outcomes and future perspectives at. International exhibition of construction business, that is to be held in May in Tbilisi, is also a very important event. It is a quickly growing field, but applying new technologies, new building methods is extremely necessary. Annual exhibition is a very good opportunity of the development of construction industry. I believe businessmen will find materials provided by us quite useful and they will take the exhibition into consideration (pg.23). Banking sector and financial market participants have gathered at annual competition. Broker business is a new, but quickly growing field and any contribution in this sphere is worth noting. This traditional competition was arranged in March once again and winner Banks, companies or brokers were recognized. You can find the best brokers and financial organizations at.
Our readers will find scientific portal quite interesting. It deals with issues of environment protection, forestry, economic effect of land usage, problems related to small and medium entrepreneurship and investment climate. We traditionally offer you domestic and international market overviews and forecasts together with significant news of the month.
I wish you success in business.