The trends of producing agro-food products and export innovative marketing strategy in Georgia

Abstract

Introduction. Historically, agriculture has been a traditional sector for Georgia and the country has favorable natural and resource potential for its development. However, the rate of development of this sector has been below the corresponding indicators of the other sectors of the economy for many years, the level of self-sufficiency for local agricultural products is low, the import of food products exceeds export by four times on average and therefore, the country faces serious challenges in this regard. So in the paper discusses about the agro-food products in Georgia and its export potential in order to reveal the relevant export stimulation economic policy as the country has the rich natural resources to develop and export. Aim and tasks. The purpose of the research is to develop the recommendations for the export stimulating economic policy based on the assessment of the agro-food products and export potential in Georgia. Results. The economic influence of stimulating export and importing the economy is assessed by the justification of the positive influence of international trade on the development of the agro-food sector. The article studies the determinants of innovative marketing in agribusiness. It is proved the role of innovative marketing in elaborating export strategy of agro-food products in the international markets. Based on bibliographic research and empirical materials, the possibility of diversification of production and export of agro-food products is revealed. Conclusions. In the agricultural sector of Georgia in recent years there has been a tendency to increase production; however, the volume of import still significantly exceeds export. It is believed that export diversification will enable Georgia to overcome the limited market capabilities and promote productivity. To achieve these goals, the use of relevant stimulating economic policy tools is offered: subsidizing export; export credits; optimization of trade barriers; effective management of exchange courses; export insurance; offering the special financial services and more.