JSC Partnership Fund (Fund) is a company established by 100 percent state ownership in 2011. The purpose of the Fund is to develop greenfield investment projects in Georgia in the sectors of agriculture, infrastructure, manufacturing and energy. The Fund wished to identify opportunities for investment in manufacturing in Georgia. The Fund asked TBSC to develop a list of sectors based on regional trade in countries neighboring Georgia. The Fund wanted to explore 1) what manufactured products neighboring countries import from the rest of the world, which could be manufactured in Georgia and 2) what natural resources neighboring countries export that could be further processed in Georgia. TBSC analyzed trade flows among nine neighboring countries: Turkey, Ukraine, Romania, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Turkmenistan and Tajikistan. More than 5 000 commodities were analyzed, involving up to 30 000 trade flows. Several potentially interesting manufacturing sectors were identified. TBSC identified ten manufacturing sectors for further work and also provided recommended actions for each of the analyzed sectors.