Canada to reassess ties with Georgia following election results

Canadian authorities plan to evaluate their relationship with Georgia’s leadership in light of the recent parliamentary election outcomes, as stated in a release from the Canadian Foreign Ministry.

“In coordination with our partners in the Group of Seven (G7) and from Europe, and considering the conduct and results of these elections, Canada will review its relations with the Georgian leadership,” the statement emphasized, Caliber.Az reports citing foreign media sources.

The ministry highlighted that Ottawa is prepared to cooperate with Tbilisi, provided the Georgian government upholds democratic principles and human rights.

The Canadian Foreign Ministry also acknowledged the election results and expressed concerns about alleged violations of the electoral process, citing data from the Organization for Security and Co-operation in Europe (OSCE). Ottawa urged Tbilisi to “respect the rights and ensure the safety of individuals during peaceful protests.”

In related developments, the United States and the European Union are in discussions about which body could investigate the reported election irregularities in Georgia. This was announced by Matthew Miller, the head of the State Department's press service, during a regular press briefing.

“I did not specify in my statement that this investigation should be led by Georgian officials. We are consulting with our European partners on what would be the appropriate body for such an investigation,” Miller stated.

On October 27, Secretary of State Anthony Blinken called for an investigation into reports of violations that allegedly occurred during Georgia's elections.

All opposition parties that won seats in parliament have refused to recognize the election results. In particular, the Unity-National Movement and the Coalition for Change have announced plans to boycott parliamentary proceedings.

Meanwhile, on the London Stock Exchange, there has been a notable decline in the share prices of Georgian companies. According to Georgian media reports, TBC Bank Group saw an 11.15% drop, Bank of Georgia fell by 6.75%, and Georgia Capital's shares decreased by 8.8% in a single day.

It is worth mentioning that this trend of devaluation in Georgian company shares has been observed since October 22.

By Tamilla Hasanova