Roberto Azevêdo, Director-General of the World Trade Organization (WTO) links Georgia’s upgrading in Fitch rating to the correct economic policy and claims that the fact is recognition of the country’s economic progress.

Azevêdo made this statement during the meeting with Georgian Minister of Foreign Affairs Davit Zalkaliani. According to the Foreign Ministry, Azevêdo told Zalkaliani that political and economic stability served as the main factors that affected upgrading in Fitch rating.

He said that Georgia had a favorable business environment. “We discussed cooperation perspectives and directions where the World Trade Organization can provide assistance to Georgia, organizing of visits of Georgian experts and official persons to WTO and productive dialog in the future,” Azevêdo said.

On 22 February 2019, Fitch Ratings upgraded Georgia’s sovereign debt grade to ‘BB’ from ‘BB-’ and assigned a stable outlook, citing as main driver behind the revision a resilient economy to negative developments in 2018, with easing external imbalances and robust growth at an estimated 4.8 percent in 2018 and the five-year average of 5.0 percent.

Georgian Foreign Minister Davit Zalkaliani met with Director-General of WTO Roberto Azevêdo in Geneva, Switzerland.