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“Restoring relations with the Kremlin is one of our main tasks,” Ivanishvili saysRussia’s Medvedev says Georgia’s parliament is set to be more diverseSaakashvili says he respects the democratic process, will become leader of oppositionThe U.S. and Europe have praised reforms under President Mikheil Saakashvili Georgian President Mikheil Saakashvili conceded his party’s defeat Tuesday, setting the stage for the nation’s first peaceful, democratic transition through election since the breakup of the Soviet Union.Victory in the parliamentary elections went to a coalition headed by billionaire businessman Bidzina Ivanishvili.Ivanishvili is set to become the next prime minister. Saakashvili will remain president until presidential [...]

Click to watch videoTbilisi, Georgia – In marshland off Georgias Black Sea coast, Georgia’s president plans to build a brand new city – which he wants to call Lazika.The promotional spiel promises dazzling skyscrapers and a special economic environment to make this the ideal spot, according to the Georgian government, to live and do business. Plus it will house another port – along a coastline teaming with ports – to support Georgias role as a major hub for international trade.Georgia owes much of its growth – which was nearly 7% last year – to its strategic location, straddling East and [...]