The Minister also noted “significant economic activity” had led to the high trade turnover, adding the country managed to be an “important trading platform” under conditions of a “free economic environment” despite the “global context” in 2023. Photo: Ministry of Economy Georgian Economy Minister Levan Davitashvili on Monday highlighted last year’s “new record” in the … Read more
Ukraine and Romania are working to launch two new cargo checkpoints on their common border. According to Ukrinform, this was reported by the State Agency for the Restoration and Development of Infrastructure of Ukraine. Representatives of the Restoration Agency and the State Customs Service of Ukraine discussed the issue of building checkpoints on the common … Read more
Serbia’s one-year presidency over the Central European Free Trade Agreement (CEFTA) has been assumed. The consolidation and boosting of the implementation of the agreement, the facilitation of the trade of goods and services between the parties to the agreement and digitization will be in its focus, among other things, in the next year.
When it comes to the volume of the trade, the CEFTA market is the second biggest partner for the Serbian economy, right behind the EU. The amount of EUR 5.4 billion was reached by Serbia’s trade with the CEFTA member-countries in the first 11 months of 2023. According to the acting director of the CEFTA Secretariat, Danijela Gacevic, the presiding over the CEFTA will be a good opportunity for Serbia to prove itself as a constructive and reliable partner. Serbia will not only preside over a joint committee as the most important decision-making body, but also have the opportunity to head other subcommittees, that is, technical bodies, in which discussions important for certain aspects of the agreement will be had.
Several aspects make the presidency important. The first one is the ability of the party that presides and runs the processes to prepare the agenda and to have questions which are important at that moment. The second one is the opportunity for the presiding country to show itself as a constructive and reliable partner, which has adequate capacities to run regional processes from the aspect of European and regional integration. The last one is the ability of the presiding party to show itself as a good host.
Gacevic adds that that Serbia will also preside over the subcommittee for non-tariff measures, the subcommittee for the trade of services and the committee for trade facilities in addition to presiding over the joint committee as the most important decision-making body within the agreement.
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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According to the Ministry of Economy, one of the lowest levels in the last decade was reached by export revenues last year due to logistics problems.
Minister of Economy Yulia Svyrydenko said that export revenues reached one of the lowest levels in the last decade last year as a result of logistics problems. To solve them, an alternative corridor in the Black Sea has been launched and river transportation on the Danube is being developed. Negotiations with the Polish side to unblock the border are being carried out.
Yulia Svyrydenko explained by this the fact that Ukrainian export overpassed $3 billion in December for the first time in the second half of the year and 10 million tons for the first time since March.
According to the Ministry of Economy, by the end of 2023, Ukraine’s exports increased and amounted to almost 100 million tons of goods (112,000 tons more than in 2022), but in value terms, it was a decrease by 18.7% or $35.8 billion.
A significant trade deficit in goods worth $26.4 billion experienced by Ukraine last year was noted by Svyrydenko. Two key factors – problems in logistics and defense needs in 2023 – caused it. The work of the Government aimed at strengthening export logistics with air defense systems and searching for new ways to export goods and services will be continued in 2024. The localization of defense industry enterprises in Ukraine will also be promoted.
According to the reports, goods worth $32.8 billion were exported by Ukraine in January-November 2023. Goods worth $44.1 billion were exported by Ukrainian business in 2022.
NH Logistics UA has been offering IOR Importer of Record and EOR Exporter of Record services since 2001 and is a market leader in Ukraine and Eurasia, supporting many clients with their import/export shipments.
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Serbia has assumed one-year presidency over the Central European Free Trade Agreement (CEFTA). In the next year, it will focus, among other things, on the consolidation and boosting of the implementation of the agreement, the facilitation of the trade of goods and services between the parties to the agreement and digitization. For the Serbian economy, … Read more
Georgian National Statistics Service (GeoStat) summed 2023. GeoStat Executive Director, Gogita Todradze, reported the Georgian economy grew by 6.9% in 2023 based on the last 11 months’ data. Gogita Todradze pointed out that trade, construction, finance, insurance, and information and communication technologies experienced growth, whereas the procession industry declined. GeoStat Executive Director compared Georgia’s economic … Read more
Last year, export revenues reached one of the lowest levels in the last decade, which was the result of logistics problems. According to Ukrinform, this was reported by the Ministry of Economy. “Last year, export revenues reached one of the lowest levels in the last decade. This is an expected and objective result that was … Read more
The rapid estimates released by the National Statistics Office of Georgia on December 28 report that Georgia’s estimated real Gross Domestic Product (GDP) growth rate amounted to 5.9% for November 2023 compared to the corresponding period of the previous year.
Geostat reports that financial and insurance activities, construction, professional, scientific-technical activities and trade contributed significantly to the growth.
Manufacturing, energy, transportation and storage declined.
As Geostat reports, the average real GDP growth for January-November 2023 reached 6.9%.
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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As Zurab Pataradze, the Georgian Ambassador to Azerbaijan, said on Friday, negotiations on the Black Sea submarine cable project intended to connect the grids of the South Caucasus and European Union member states are in an “active phase”.
According to him, the talks will end very soon, and involvement in this project will become evident. Georgia’s position will not only be the one of a transitory country, but primarily the position of an electricity exporting country.
As Pataradze added, a “great emphasis” was put by the Government on the development of renewable energy. It was doing “its best” to move the project to the next stage “on time”.
Trade relations between the two countries were characterized by the Ambassador as “unprecedented”.
He said that the trade turnover between the countries will exceed one billion [US dollars] this year due to the great potential of the trade corridor in terms of transit and a number of important projects that are being implemented in this direction.
The Middle Corridor [a logistics route connecting China with Europe through the South Caucasus region] is being strengthened and promoted in order to attract more cargo to the region and to complete the Baku-Tbilisi-Kars [railway] project.
According to Pataradze, the expansion of the railway route would be completed early next year, enabling rail transportation of about five million tons of cargo.
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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The overall external trade in the Republic of Serbia for the period January- November 2023 amounted to: – USD 64785.4 million – which was an increase of 0.9% compared to the same period last year; – EUR 60004.6 million – which was a decrease of 1.6% compared to the same period last year. The value … Read more