Why economic freedom is good for business

An international workshop under this headline took place in Tbilisi on August 11-12. The event was held at the behest of the Georgian Ministry of Economy and Sustainable Development, the new economic school of Georgia and International Chamber of Commerce in Georgia. Prof. Dr. James Gwartney from Florida University who is the founder of research of economic freedom in the world and Prof. of the same university Dr. Randal Holcomb held the meetings with the representative of NGOs, business sector and with the state sector representatives. Among the participants Armenian business sector representatives were also present.

The American visitors highlighted how economic development should proceed in the country. Rule of law, free court system, less interference of the state in business and other issues should be exercised in the country which aims to achieve economic success in the country. Participants highlighted the importance of such contacts however some of them mentioned that the current administration gives confusing recommendations. On one hand it is targeting developing Georgia according to the Singapore model, on the other hand it is positive about the possibility of integrating in the EU. According to the American professors these two directions are conflicting.