Tatyana Gracheva

According to US State Department report on the investment environment in Georgia in 2024, Georgia favorably compares to regional peers and overall business and investment conditions are sound, but there is a continued lack of confidence in the judicial sector’s ability to adjudicate commercial cases independently or in a timely, competent manner, with some business dispute cases languishing in the court system for years.
Georgia’s economic growth rate was on average over five percent from 2005 through 2023 despite the shock from the COVID pandemic. Tourism revenues, a surge in immigration and financial inflows, and a rise in transit trade through Georgia made the country’s economy increase in 2021 by 10.4 percent and outperform expectations in 2022 with 10.2 percent growth. A return to more traditional economic drivers (tourism, increasing exports, and strong foreign capital inflows) made the economy grow by 7.5 percent and inflation drop to 0.4 in 2023. Georgia’s GDP growth is forecasted between five and seven percent in 2024.
Nevertheless, there are such problems as inefficient decision-making processes at the municipal level, lack of effective anti-trust policies, accusations of political meddling, selective enforcement of laws and regulations, including commercial laws, and difficulties resolving disputes over property rights.
Georgia is eligible to export many products duty-free to the United States under the Generalized System of Preferences program according to a Bilateral Investment Treaty signed in 1994.
Increased east-west trade along the Middle Corridor has made transit and logistics priority sectors due to a significant profit they can bring to Georgia. Recent increases in cargo through the Middle Corridor connecting Europe to Central Asian markets, as well as strategic infrastructure investments and regional cooperation have made the expanding Central Asian market the source of long-term growth for Georgia. A new tender for the development of the Anaklia port, a deep seaport whose original tender was canceled in 2020, was announced by the Georgian government In February 2023. The international tender for the design and construction of Anaklia port’s marine infrastructure was announced by the government in March 2024. According to the report, plans to build a new Tbilisi International Airport were announced by the government in April 2024.
NH Logistics GEO has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Georgia and Eurasia, supporting many clients with their import/export shipments.

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On 17 October 2023 China and Serbia signed the Free trade Agreement that took effect on 1 July. Tariffs on taxable goods will be eliminated on 90% by both countries.
A decrease by 20% annually will be shown by tariffs on Serbian wine, so, they will reach 0% in five years.
China’s Ministry of Commerce reports that the current import tariff on small-packaged wines and sparkling wines made from fresh grapes is 11.2%, compared to a typical 14% tariff rate for these products in China.
Nevertheless, a 13% value-added tax and a 10% consumption tax on wine is still imposed by China.
There are some 20,100ha of vineyards in Serbia today across 22 wine regions incorporating 77 wine districts.
White wine varieties, popular with Chinese consumers, occupy close to 60% of the country’s vineyards. Development of tastes and growth of consumer knowledge promise a white wine revolution in the country.
Xiao Pi, a Chinese wine influencer and e-commerce retailer based in Shanghai, noted that what white wines make up 40% of the wine sales on his e-commerce platform during a session at this year’s Vinexpo Asia trade show entitled ‘Roundtable with Industry Titans: Insights into the Future of China’s Wine Market’.
The rise of white wine in China was recorded after the launch of the platform in 2018. As many as 200 varieties are grown in Serbia, though more than two-thirds of plantings are accounted for the top 10.
According to China’s Ministry of Commerce, a reduction in tariffs was provided for over 60% of taxable goods goods.
As Chinese government news agency Xinhua reported, they will gradually reduce to zero the tariffs on over 95% of products, including electric generators from Serbia, electric motors, tires, beef and nuts.
Pingxiang Customs in south China’s Guangxi Zhuang Autonomous Region issued to Serbia the first certificate of origin for exports. This free trade agreement (FTA) between China and Serbia took effect on July 1st.
A company in Shangli county issued the certificate of origin for 384 boxes of fireworks granting a 2 percent tariff reduction when clearing customs in Serbia.
The deal signed in October 2023 guarantees an exemption from tariffs to approximately 90 percent of the products traded between China and Serbia and zero tariffs to over 60 percent of them immediately after the FTA goes into effect.
Main export products will be covered by the proportion of final zero-tariff items in import value that will reach roughly 95 percent for both sides.
NH Logistics SER has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Serbia and Eurasia, supporting many clients with their import/export shipments.

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Ukrainian Deputy Economy Minister and Trade Representative Taras Kachka posted on social media that Ukraine’s international trade in goods remained stable in January-June 2024 compared to the same period in 2023, as the country has exported $19.5 billion worth of goods in H1 this year, which is equal to last year’s figure. He has also … Read more