Grab from TV footage showing President Saakashvili making a statement acknowledging defeat in parliamentary elections.

In a televised address President Saakashvili conceded that his ruling United National Movement (UNM) party had lost Monday's parliamentary election, adding that UNM was now going into opposition and pledged to contribute to a constitutional process of convening new Parliament and forming new government by the Georgian Dream coalition.

“There are very deep differences between us [UNM and Georgian Dream] and we believe that their views are extremely wrong, but democracy works in a way that Georgian people makes decisions by majority,” Saakashvili said.

Below is President Saakashvili’s statement:

“Dear compatriots! After summarizing the preliminary results of parliamentary elections, it is obvious that the coalition Georgian Dream has gained an advantage in these elections.

It means that the parliamentary majority should form a new government and I, as the President, will contribute - in frames of the constitution – to the process of launching Parliament’s work so that it is able to elect its Chairman and also to form a new government.

You know well that the views of this coalition were and still are fundamentally unacceptable for me. There are very deep differences between us and we believe that their views are extremely wrong, but democracy works in a way that Georgian people makes decisions by majority. That’s what we of course respect very much.

At the same time, as the leader of the [United] National Movement I want to say, that the National Movement goes into opposition.

Achievements of the Rose Revolution in last eight years are very important not only for Georgian history – this is one of the most important periods of Georgia’s multi-century history – but also these achievements have turned Georgia into one of the key countries for the rest of the world.

Therefore, I am deeply confident that ultimately, regardless of what threats these achievements may face within the nearest months or years, their eradication is impossible.

So as the opposition force, we will struggle for the future of our country; we will struggle for everything what has been created in recent years in terms of struggle against corruption, crime, in terms of Georgia’s modernization, building of new institutions, to protect them as much as possible and to preserve them for future generations and to further develop Georgia as a result of all the constitutional and political processes.

Of course, I express my respect towards the decision of the majority participating in the elections, but at the same time, I thank those numerous supporters who expressed their support towards the governmental course, presidential course and I am sure that in the future there will be no alternative to the progress, to Georgia’s development and we will all continue our struggle with this belief regardless of what the challenges of present day might be.”