Georgia is in the final stages of the accession process to the Cape Town Convention on International Interests in Mobile Equipment related to aviation assets. The Government has already submitted the relevant draft legislation to Parliament, where it has been reviewed by the Sectoral Economy and Economic Policy Committee and the Foreign Relations Committee.

At the committee meeting, Minister of Economy and Sustainable Development Mariam Kvrivishvili explained that the Convention aims to reduce financial risks associated with the purchase, rental, or leasing of aircraft and aviation equipment—measures that will strengthen Georgia’s aviation industry.

“By joining the Convention, airlines registered in Georgia will benefit from simplified procedures for acquiring or leasing aircraft and aviation equipment,” said Kvrivishvili. “This will allow them to bring in more modern aircraft under more favorable leasing conditions.”

She added that accession will improve Georgia’s standing in the global aviation market by aligning the country’s legal standards with international norms, making it easier to conduct cross-border leasing and financing operations. As a result, Georgia will be seen as a more reliable and attractive partner, which is expected to drive greater investment into the sector.

“Today, Georgian aviation is reaching record levels,” Kvrivishvili noted. “Over 60 passenger airlines operate nearly 100 air routes to and from Georgian airports. This year alone, several major European carriers, including British Airways, EasyJet, and Air Serbia, have entered the Georgian market.”

Kvrivishvili emphasized that joining the Cape Town Convention will not only support the development of local airlines but also help expand direct flight routes to key strategic destinations for both passenger and cargo transport. This, in turn, will further stimulate growth in tourism and aviation and contribute to the broader economy.

Notably, the Convention will also establish an international legal framework in Georgia to protect the rights of creditors, such as banks and leasing companies. It will enable the registration of international interests in a central registry (the International Registry), ensuring transparency and legal certainty in transactions. Currently, 86 countries are party to the Cape Town Convention.

Following committee discussions, the draft legislation will proceed to a plenary session of the Georgian Parliament for further consideration.