Sukhum, Republic of Abkhazia is demanding $13 billion in compensation from Tbilisi for damage caused during the 1992-1993 war and ensuing blockade.

"Any talk of compensation for the refugees and those temporarily displaced is possible only after the Georgian side pays for the damage caused," Abkhazia's Foreign Minister Sergei Shamba said, in an interview broadcast on the Georgian Rustavi-2 TV channel.

"Georgia should pay for the damage. A special commission has calculated the war damage inflicted upon Abkhazia. It stands at $11.5 billion in losses...., plus, we believe it's necessary to consider the economic losses caused by sanctions and the current blockade," he said.

09.11.2007  RIA Novosti

 Ozgan; Despite unsettlement og georgian-abkhaz relationship, Abkazia demonstrates high economic growth

Sukhum, The delegation of the United States embassy in Georgia and the United States Agency for International Development (USAID) met with the heads of government of Abkhazia.

Deputy Head of the Political and Economic Section of the embassy Robert Keen and Director of USAID Energy and Environment Department John Hansen met with the Minister of Economy of Abkhazia Christina Ozgan.

According to the Minister, the meeting discussed the economic situation in the country.
"Guests are interested in the rate of economic development, the priority sectors of the economy," said Christina Ozgan.

"We would like to emphasize that the dynamic development of the economy of Abkhazia continues in spite of acting economic sanctions against our country, which have not yet been lifted," said Minister of Economy.

Christina Ozgan stressed that the dynamics of the investment market allows to speak of a serious leap forward in the development of industries such as tourism and service industries.

Economy Minister emphasized that the growth of the tourism market over the past year was 40%, the highest figure for the entire period of time since the end of the war of 1992-1993.

09.06.2007  abkhaziagov.org

The Head of State Sergei Bagapsh will participate in the VI International Investment Forum "Kuban-2007", to be held on September 20-23 in Sochi.

The Abkhaz delegation at the Forum will be headed by the President of Abkhazia.

The annual International Investment Forum "Kuban-2007" is the most representative forum to discuss the future of the Caucasian Black Sea coast.

The Forum will bring together business leaders, governors of Russia's regions etc.

It is the second time Abkhazia participates in the Forum "Kuban-2007". Last year, Abkhazia presented at the Forum several exhibits, including proposals for the development of tourism and wine.

09.03.2007  abkhaziagov.org