Georgia expects to reduce Russia’s share in wine exports to 40% in five years

An increase in supplies to the US and European markets may lead to a reduction in Russia’s share in wine exports to 40% within five years, informed Head of the National Wine Agency of the Republic Levan Mekhuzla in an interview with Business Media Georgia.

“Last year, wine exports to the US increased by 16%… In general, we are working very hard in other markets – the UK, Germany… We think that in about five years, Russia’s share in wine exports will fall below 40%”, he said.

By data According to the National Wine Agency, in 2021 Georgia exported almost 1.1 million bottles of wine, which was a record figure. By 2025, the authorities of the republic expect to sell about 5 million bottles on the American market, Mekhuzla stressed.

During the first half of the year, Georgia exported wines worth $98 million, 60% of exports went to Russia. In 2021, the share of the Russian market amounted to 57%, which is less than similar indicators both before and after the 2006-2012 wine embargo imposed by Russia.

In the summer of 2019, against the backdrop of deteriorating relations between Moscow and Tbilisi, in the State Duma considered the question of introducing a new embargo on wines and borjomi from Georgia. The idea was not supported by Russian President Vladimir Putin, and the topic of wine sanctions against Georgia, as told Deputy Foreign Minister of the Russian Federation Grigory Karasin, was closed.

Subscribe on Vedomosti on Telegram and stay up to date with the main economic and business news.