The strategic importance and challenges of the eastern coast of the Black Sea, the way to the economic development of Georgia

Abstract

Georgia is an important part of the Europe-Caucasus-Asia transport route (TRASECA). For the coastal country, it is an opportunity for economic, maritime, and other economic development. Since ancient times, our country has been connected to Asia and European countries through the Silk Road. In recent years, Georgia's role as a middle corridor connecting countries that do not have access to the Black Sea (Azerbaijan, Armenia, and Kazakhstan) has significantly increased. The construction and development of the "Anaklia Deep-Sea Port" will contribute to the development of Georgia as a transport and logistics hub. “The Black Sea Submarine Cable” project is a project of strategic importance and offers great opportunities for Georgia, Romania, and other neighboring countries. The project aims to export energy from the South Caucasus (SC) countries to Romania, Bulgaria, and South-Eastern Europe (SEE) via a submarine cable crossing the Black Sea. It will support the development of the renewable energy sector, increase transit opportunities between Georgia and the European Union. The purpose of our research is to find out what economic and political benefits our country will receive in the case of the implementation of these two important projects. How attractive and profitable Georgia can become as an economy if this project is implemented. We will also assess the current situation and challenges of the eastern coast of the Black Sea.