10.36172/EKONOMISTI.2024.XX.04.DAVLASHERIDZE

Expanded   Summary

The article systematizes the experience of developing and implementing EU measures in the field of economic security and analyzes the possibility of its application in Georgia. The experience of the member States of the European Union has shown that the economic security of a nation has a decisive impact on ensuring a clear place in the global world, which takes into account the national strategic value and potential of the nation. The most common ways of ensuring economic security in the countries of the European Union (Germany, France, Italy, Spain, former socialist countries, small countries of Western Europe, etc.) are considered. It is emphasized that the world order is undergoing significant changes characterized by economic instability, inflation and disruptions in supply chains (for example, Western sanctions against Russia – and the disruption of Ukrainian grain exports across the Black Sea led to a sharp increase in energy and food prices). It was necessary to take into account rapid technological progress, which created new security risks (such as the arms race and cyber threats), as well as natural risks such as pandemics and climate change. All this requires a new economic security program not only for individual countries, but also a new comprehensive economic security program. Economic security is an integral part of the national security of the state and is determined by the state of protection of the state's economy from external and internal threats.

Threats to economic security are certain conditions and factors that contribute to a negative impact on the economy of a state, which is the main component of its national security. The main ways to combat threats to economic security in different countries of the world differ from each other, but have common roots, which are expressed in the tasks of maintaining a sustainable level of development and preventing economic stagnation during the crisis.   Ultimately, the successful provision of the national economic security of the EU countries depends on the stability and strength of the country's economy. Only strong economies can successfully defend their national interests in the face of growing global competition and global economic imbalances.

Therefore, States should not only rely on international experience in developing the concept of national security, but also, above all, implement national and foreign policy economic reforms to protect all actors.

Due to Georgia's strategic location, it can play an important role in diversifying transport routes and ensuring Europe's energy supply.  Of particular importance to Georgia are projects aimed at strengthening its transit and logistics function, in particular, the Baku-Tbilisi-Kars railway, the Black Sea underwater power cable and the deep-water port of Anaklia. 

Georgia is becoming increasingly important for the security of the European Union in terms of energy supply. The cable laid across the Black Sea to transport energy to Europe should become "a symbol of cooperation between Georgia and the entire region." Before that, Azerbaijan expressed its readiness to supply electricity to Europe through Georgia, and Hungary became the first EU country to actually express interest in this.

In our opinion, the main condition for the survival of such a small state as Georgia is adaptation to changes in the external environment. Countries such as Denmark, Norway, Switzerland, Ireland and the Netherlands faced the same problem of survival. Each of these countries has found its own specialization in its region, successfully solved this problem and survived as a state.  In this regard, since Georgia's goal is its accession to the European Union, the main goal of national security in the long term should be Georgia's achievement of EU standards in all areas and in all directions - technology, equipment, labor productivity, cost of production, wages, etc.

Keywords: economic security, World Order, economic stability.