Tatyana Gracheva

According to Levan Tatarashvili, CEO at IBEX Logistics, the transport companies has been positively affected by the increased demand for the Middle Corridor transit route.
Tatarashvili says that the 2023 data promises 500% increase of demand for transportation, and even more in 2024. Improvement and modernization of the infrastructure are the main tasks.
Levan Tatarashvili notes that dynamics are being observed and the role of the Middle Corridor has increased. Organization of the infrastructure is what should bу done first. Particularly, they plan to modernize the railway in a bid to significantly simplify the transportation amid the current delays. In this case, they can execute 10 requests out of every 100. Cargos are not able to be segmented. An unprecedentedly high demand for transportation is currently seen by Georgia. Volumes, which are individual for each company, can’t be specified. In some cases, demand increased by 500%.
According to the company CEO, the planned major infrastructure projects, including the Anaklia port, give high expectations for radical change of the current reality.
Levan Tatarashvili points out that as long as the Middle Corridor plays a big role, Georgia is involved in this process as well, despite some obstacles, due to the country’s geographic location. The Anaklia port project will improve the situation and cargo flows will be increased by at least 150%.
They established the Middle Corridor in February 2014 with the participation of Azerbaijan, Kazakhstan and Georgia. Ukraine, Romania and Poland joined the project later. The route, currently starting from the Chinese-Kazakh border, passes through Kazakhstan, the Caspian Sea, Azerbaijan and Georgia towards Europe.
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.

Source Link

So-called CBAM (Carbon Border Adjustment Mechanism) goods were exported to the European Union by about 2,400 companies from Serbia last year (by 1,400 of them in the last quarter of 2023). According to the Serbian Chamber of Commerce, not only producers, but also traders or users of these goods were included in these figures.
Primarily they created CBAM as a mechanism to exchange data on embedded emissions between companies, exporters outside the EU and importers based in the EU, and at the moment, there is no publicly available centralized national register of companies that have to abide by the CBAM rules, so the Serbian Chamber of Commerce does not have precise data on how many companies from Serbia sent their CBAM reports to their EU partners, covering the first reporting period (fourth quarter of 2023).
The largest number of companies whose products are subject to the CBAM rules are in the aluminium, iron and steel industries (according to preliminary estimates, more than 95 percent) is reported by the Serbian Chamber of Commerce data.
A lot of challenges will be encountered by small and medium-sized companies from the metal-processing sector due to the lack of resources and the level of preparedness, whether by those which directly export the final product to the EU or by those the product of which is one of the products including in the supply chain of the final product exported by another company.
The EU’s tool to put a fair price on the carbon emitted during the production of carbon-intensive goods that are entering the EU and to encourage cleaner industrial production in non-EU countries is the Carbon Border Adjustment Mechanism. Only imports of cement, iron and steel, aluminium, fertilisers, electricity and hydrogen will be concerned by it during its transitional phase.
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.

Source Link

Georgia’s foreign trade turnover reached 21 billion 529 million dollars in 2023, with both import and export increased during this period.
The data of 2023 reports the value of goods sold in Kyrgyzstan increased by 642% (695.6 million dollars). Due to that, the fourth place in the ranking of export destinations was taken by the Central Asian country with a share of 11.4%.
Statistics show that 88.8% of products exported to Kyrgyzstan are automobiles (16,831 cars worth 617.9 million dollars were sold last year).
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.

Source Link

As the National Statistics Office said on Wednesday, the Georgian economy grew 8.3 percent year-on-year in December and by seven percent in 2023.
According to the Office, estimated real growth in construction, manufacturing, financial and insurance sectors, information and communication mainly drew last month’s growth, although energy and real estate sectors declined.
As Deputy Economy Minister Vakhtang Tsintsadze said, the domestic economy’s stability and growth at a “high rate” was maintained and continued despite the “geopolitical tensions” and “external shocks” created in the wider region.
According to him, one of the highest economic growth rates for 2023, both in the European region and among [EU membership] candidate countries, has been shown by Georgia, and this trend is expected to continue in the coming years.
“Record” results of the previous year were also pointed to by The Deputy Minister. He added that external trade turnover had exceeded $6.1 billion, while revenues from international tourism had crossed the $4.1 billion mark.
A growth trend also characterized investment activity in the country.
Tsintsadze said that all of the above-mentioned gives positive optimism that economic growth will continue at this rate and that 2024 will be impressive in economic growth, and higher economic growth than all forecasts [by various international financial organizations] during 2023 will be achieved.
According to the January edition of the World Bank’s Global Economic Prospects report, the Georgian economy would grow 4.8 percent in 2024.
As The National Bank of Georgia has said, economic activity is expected this year to “gradually normalize” in line with the growth rate of the potential gross domestic product, estimated at five percent.
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.

Source Link