Tatyana Gracheva

An updated Canada-Ukraine Free Trade Agreement (CUFTA) was issued by Ukrainian First Deputy Prime Minister and Economy Minister Yulia Sviridenko and Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng on June 26. It will protect investments and develop the trade between Ukraine and Canadia. Ukrainian employees will get temporary entry based … Read more

Georgia’s external merchandise trade derceased by 2.2 percent in January-May 2024 (USD 8 432.0 million). The imports increased by 0.7 percent (USD 6 158.0 million), while the exports decreased by 9.2 percent (2 274.0 million). The share of negative trade balance in external trade turnover constituted 46.1 percent (USD 3 884.0 million in January-May 2024).
The share of the top ten trading partners by exports in the total exports of Georgia reached 79.7 percent In January-May 2024: Kyrgyzstan (USD 360.2 million), Kazakhstan (USD 274.8 million) and Russia (USD 273.1 million).
The share of the top ten trading partners by imports in the total imports of Georgia attained 68.3 percent in January-May 2024: Türkiye (USD 1 078.1 million), Russia (USD 731.0 million) and United States (USD 601.4 million).
The share of the top ten trading partners in the total external trade turnover of Georgia was 67.1 percent in January-May 2024: Türkiye (USD 1 254.4 million), Russia (USD 1 004.1 million) and China (USD 691.6 million).
Motor cars were the top export items in January-May 2024 (USD 739.7 million, 32.5 percent of total exports). The share of wine of fresh grapes in the total exports amounted to 6.2 percent (USD 140.7 million). Ferro-alloys occupied the third place (USD 105.6 million, 4.6 percent of the total exports).
Motor cars were the top import commodities in January-May 2024 (USD 967.4 million, 15.7 percent of the total imports), followed by the petroleum and petroleum oils (USD 513.9 million, 8.3 percent of imports). Third top import commodity were the medicaments (USD 265.5 million, 4.3 percent of imports).
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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Companies interested in entering to Serbian and Chinese markets have learned about the most important elements of the Free Trade Agreement between Serbia and China, which comes into effect on July 01. Assistance and visits of Serbian entrepreneurs to encourage them to take advantage of this opportunity, which should not be missed, was announced by the relevant Ministry.
Nearly 20,000 products, more than half of which will be ready for import and export without customs duties from July 01, are included in the list of the Free Trade Agreement between Serbia and China.
Minister Tomislav Momirović warns about the danger of people from the region, from Europe, and around the world who will come here and take advantage of this agreement, open companies, and adapt production if Serbians and Chinese don’t get involved first, if their business world and business community don’t immediately recognize this opportunity.
According to Sophia Li from Linglong International, both Chinese and Serbian companies will get more goods and materials from the agreement.
She says that in her opinion a lot of preparation must be done from the part of Serbian entrepreneurs to develop the market in China, and they will survive in that market as long as they have good products.
Experts think that a new investment climate and opportunity for joint ventures, primarily with European partners, are being created by Serbia with the help of the agreement with China in Europe, along with Georgia and Switzerland. The importance of Serbian production of more than 50 percent of the products marketed in China is emphasized by experts.
According to Mihajlo Vesović from the Serbian Chamber of Commerce, logistics costs in trade with China are currently very stable. The importance of strategic thinking was highlighted by him.
Vesović notes that the ‘Belt and Road Initiative’ allows transport and trade between China and Serbia, and generally Europe, to be as efficient, cost-effective, and competitive as possible.
A wide range of opportunities is guaranteed by over ten thousand export positions to China and over eight thousand import positions. Dr. Bojan Lalić, Director of the Belt and Road Institute in Belgrade, emphasizes this fact and adds that it is necessary to transform every opportunity into a result.
Serbian producers will send various types of fish, beans, fresh fruits and vegetables, pharmaceutical products, and seats for the automotive industry on pallets heading to China without customs duties starting July 01. The population of the Chinese market is estimated at 1.4 billion people.
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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