Adding Zangazur corridor to Trans-European Transport Networks is discussed by Azerbaijan and Europe

A working visit of Azerbaijan’s Minister of Digital Development and Transport Rashad Nabiyev to Brussels, the capital of Belgium has taken place.
A meeting between Rashad Nabiyev and European Commissioner for Transport Adina Valean was organized during the visit.
Cooperation between Azerbaijan and the European Union in the field of transport, especially aviation, as well as the implementation of projects within the Trans-European Transport Networks (TEN-T) and adding the Zangazur corridor to these networks in the future were discussed at the meeting.
Issues related to holding the second meeting of the High Level Transport Dialogue in Baku were also mentioned.
A detailed information about the transport and digitalization projects implemented in Azerbaijan, including the importance of the Zangazur corridor and the work done in the liberated territories was given to European Commissioner for Transport Adina Valean.
A great potential for cooperation around the Middle Corridor, a multimodal transport route passing through the South Caucasus and Central Asia was also noted. Certain opportunities for integrating the region into European and global supply chains will be opened by it.

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Free trade talks between Georgia and Korea are to be started in 2023

The declaration on the completion of the study on a free trade agreement was signed by Georgian deputy economy minister Genadi Arveladze and Gi Wook Young, director general on free trade agreements of Korea’s ministry of trade, industry and energy, earlier today in Seoul.
According to the ministry of economy, a positive impact of the deal on the economic welfare of both countries has been confirmed by a joint feasibility study on a free trade agreement between Georgia and South Korea.
The signing of the declaration on the completion of the study on a free trade agreement by Georgian deputy economy minister Genadi Arveladze and Gi Wook Young, director general of Korea’s ministry of trade, industry and energy, led to the conclusion.
Implementation of “relevant internal state procedures as soon as possible” to start negotiations on the actual agreement, with the first round of talks planned for 2023 was accepted by the both parties.
According to Georgia’s economy ministry, the Korean market of 50 million consumers “with high purchasing power” would be opened to Georgian exporting companies by the agreement.
Strengthening trade and economic relations between Georgia and the Republic of Korea will be boosted by the free trade agreement between the two countries. According to the state body, the expansion of trade and investment will be facilitated by the agreement and a comprehensive institutional framework for a wide range of bilateral cooperation will be provided.
Negotiations on an agreement on promotion and protection of investment between the countries were also held by Arveladze.

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Bilateral trade between Armenia and Iran is to be increased to $3 billion

According to the Armenian service of RFE/RL, the finance ministers of Armenia and Iran expressed their hope to further increase of economic exchanges between their countries, taking into account a recent growth in bilateral trade, during their meeting in Tehran.
The meeting between Armenia’s Finance Minister Tigran Khachatrian and Iran’s Minister of Economic and Financial Affairs Ehsan Khandozi took place in Tehran.
The main subject of the visit of Khachatrian and his delegation to Iran that took place one week after Prime Minister Nikol Pashinian visited Tehran where he met with Iranian President Ebrahim Raisi, was mainly regional security, but they also discussed prospects of increasing bilateral trade between the two neighboring countries.
According to Khachatrian, the volume of economic exchanges between the two countries is expected to grow by over 40 percent in 2022.
Several economic priorities between the two countries were highlighted by the Armenian and Iranian ministers, particularly, raising annual bilateral trade to $3 billion, increasing the goods exchange volume to 5 million tones, as well as the facilitating and developing financial, banking, commercial and customs relations.
According to the Armenian minister, they held productive and constructive discussions during his first-ever visit to Iran. “Constantly developing and strengthening cooperation” between Iran and Armenia was also highlighted by him.
Khachatrian said that the history of economic and political relations between Iran and Armenia has been lasting for decades. These main foundations are testified by the goal of raising the level of commercial relations between Armenia and Iran to $3 billion a year. This longstanding cooperation between the two countries is the basis of all ongoing negotiations.
The Iranian minister replied that “the government of Iran is very closely following the economic policy run by neighbor countries, putting the focus on the Caucasus region.”
Khandozi expressed his hope for the fulfillment of the goal of carrying out 3 billion dollars’ worth of trade between the countries, discussed during the meeting of the Iranian president and the Armenian prime minister, under the leadership of this government.
A meeting between Khachatrian and members of his delegation, including his deputy Avag Avanesian, and Iranian Vice President Masoud Mir Kazemi took place during the visit to Iran, and the meeting with Iran’s Minister of Industry, Mines and Trade Reza Fatemi Amin was planned.


Possibilities of boosting export from Kazakhstan to Africa are discussed by experts

According to the press service of the Kazakh MFA, a seminar on: “Trade and investment promotion between Kazakhstan and Ethiopia” was held by The Embassy of the Republic of Kazakhstan in Ethiopia, the Center for the Development of Trade Policy “QazTrade” of the Ministry of Trade and Integration of the Republic of Kazakhstan, the Export Insurance Company “KazakhExport” and the Addis Ababa Chamber of Commerce and Industry.
Representatives of the business circles of Addis Ababa, interested in the supply of Kazakh goods to the market of Ethiopia and other African countries, as well as in the development of bilateral trade and exports of Ethiopian products, attended the event, held in a hybrid format.
The seminar participants were acquainted with the course of economic reforms of President Kassym-Jomart Tokayev, conducted in the country in the context of creating a new, fair and inclusive Kazakhstan, based on the principles of socio-economic justice, intolerance to corruption, fair and equitable competition and efficient allocation of resources, by Ambassador Barlybay Sadykov.
The great potential for increasing mutual trade between Ethiopia and Kazakhstan was noted by Deputy Secretary General of the Addis Ababa Chamber of Commerce and Industry Associations Zekarias Assefa.
Ethiopia is the largest market among the countries of East Africa, due to a population of more than 120 million people, and an aviation transit hub on the African continent, due to convenient access to the market of the East African Community. According to the representative of AACCIA, an increase in trade turnover with Kazakhstan is expected.
A presentation on the trade, economic and investment potential of Kazakhstan was made at the seminar by Galym Nurgazinov, Director of the Project Development Department of JSC Center for Development of Trade Policy “QazTrade”, and Armana Bekbasova, Director of the Department of International Cooperation of the Export Insurance Company “KazakhExport”.
Great interest was aroused by the information presented by the Kazakh participants among businessmen of Ethiopia, who made proposals for the development of cooperation with Kazakhstan, establishing direct contacts with businessmen of our country, creating joint ventures. Many practical questions concerning doing business with Kazakhstan were also asked.
Tadesse Sisay, Managing Director of the “Sendros” trading company, highlighted the necessity of solving the main barrier in trade – logistics issues.
According to Sisay, significant trade opportunities of Kazakhstan were learnt today. Demand for Kazakh products in the Ethiopian market may be great. She expressed her opinion that the main task was to build logistics routes for the mutual supply of goods.
The plans for cooperation with Kazakhstan were spoken about by Ermeyas Asfaw, General Manager of “Edcon” PLC.
According to him, import of plastic and other petrochemical products from Kazakhstan presents a great interest for the company. Demand for these goods is great in Ethiopia, and it is necessary to find reliable partners in Kazakhstan.
Significant opportunities for the growth of mutual trade between Kazakhstan and Ethiopia are confirmed by the experts, and the decision was made to work closely to eliminate such barriers as the lack of direct communications to support trade, the lack of information about differences in technical standards, permits and accompanying documents, the development and proposal of mutually beneficial logistics routes for the supply of goods.
Interest in working together in these areas was expressed by the seminar participants. They are going to organize meetings and look for partners to increase bilateral trade.
The amount of 280.6 thousand US dollars, which is 2.9 times higher than in the same period of the previous year (95.7 thousand US dollars), was reached by the trade turnover between Kazakhstan and Ethiopia in January – September 2022. The import of Ethiopian goods to Kazakhstan (coffee, live plants, flowers, vegetables, clothing and textiles) accounted for almost 100% of the turnover.
There is a general growth of the trade turnover between Kazakhstan and all African countries, and the increase of the trade turnover of Kazakhstan with Ethiopia corresponds to this trend. It reached $849.2 million in nine months of 2022, which is 1.3 times more compared to the same period in 2021 ($380 million). Exports of Kazakh goods to African countries exceed imports from this continent and reached 624.6 million US dollars (1.8 times increase), imports reached 224.6 million US dollars (40% growth).

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The most mineral products were exported and machinery and equipment were imported by Armenia

According to the Statistical Committee, the biggest share in Armenia’s exports in the first 9 months of this year belonged to mineral products, whereas in the imports, machinery, equipment and mechanisms had it.
An increase by 63.8% compared to the same period of the previous year was shown by Armenia’s exports in January-September (3 billion 509 million 421.2 thousand dollars).
The export to the countries of the Eurasian Economic Union (EAEU) grew up 2.4 times compared to the same period of the past year and comprised 1 billion 467 million 370.5 thousand dollars.
The export to the member states of the European Union rose up by 23.9% compared to the same period of the previous year (totally 606 million 568.3 thousand dollars).
Mineral products was the most exported product by Armenia– 785 million 398.5 thousand dollars (4.2 times increase compared to the same period of the previous year). Ready-made food products followed the mineral products and attained a 44.7% increase compared to January-September 2021 (605 million 400.7 thousand dollars).
Precious and semi-precious stones, precious metals and items made of precious metals were the next. Their export volume increased 2.7 times compared to the same period of the previous year and attained 597 million 341.0 thousand dollars.
Machines, equipment and mechanisms are the first in terms of import volumes– 1 billion 109 million 076.2 thousand dollars (an 84.9% increase compared to the same period of the previous year). The mineral products came after them with 858 million 430.1 thousand dollars (a 32.7% growth compared to the same period of the previous year).

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According to Georgian Economy minister, the country can play the leading role in the connection between South Caucasus, Central Asia and EU

According to Georgian economy minister Levan Davitashvili, the country could play the “leading” role in the process of connecting the countries of the South Caucasus and Central Asian regions with the European Union.
As the European Commissioner for Energy and Adina Vălean, the Commissioner for Transport said making the comment following the meeting between Davitashvili and Kadri Simson, Georgia had “confidence and unconditional historical advantages” to fulfil the role.
A “very important work” done by the Georgian government throughout the past year to ensure Central Asian states and to “closely connect” Azerbaijan and other regional states with the EU was highlighted by the minister.
According to him, Georgia could also play an “important role” in the economic security and development of Europe.
According to Davitashvili, alternative sources of energy supply are being looked for by Europe, as well as alternative routes for the European economy in general, alternative connection with Asia and main trade partners – in this regard, Georgia can become an important and reliable partner, which the country is able to do today, and the potential of this cooperation is even greater.
It was stressed by the Georgian official that sectoral integration was an “important prerequisite” for the country to finally become a full member of the EU.
Davitashvili said that the European Commissioners noted that Georgia has fulfilled more than 60 percent of its obligations defined by the agreement [with the EU] on the Deep and Comprehensive Free Trade Area, and recognized it as an important prerequisite for Georgia’s progress towards EU membership to continue.

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Boosting trade and investments are discussed by Georgian PM and the UAE president

According to the Georgian government’s press office, cooperation and prospects of boosting trade ties and investment between Georgia and the United Arab Emirates were discussed by Georgian prime minister Irakli Garibashvili and Sheikh Mohamed bin Zayed Al Nahyan on Monday at their meeting in Abu Dhabi.
Georgian PM was welcomed by UAE officials to start off visit.
Readiness to further strengthening of the cooperation was expressed by the officials, and the “fruitful cooperation” between the two countries in various fields and a “high-level political dialogue” evidenced by visits of senior officials from both states was praised.
Irakli Garibashvili wrote in Twitter that he was happy to meet the president of Sheik Mohamed Bin Zayed in Abu Dhabi. They discussed the ongoing bilateral and future cooperation between the two countries, as well as enhancing trade and investment flows between them for the greater benefit of the both nations.
Noted negotiations were ongoing “actively” between Georgia and UAE to establish free trade between the two countries. A number of projects in the country that had been funded by Arab investors were highlighted by the head of the Georgian government.
Establishment of a free trade zone that would create a “favourable climate for the promotion and development of economic and trade relations” between the two countries was also pointed out. The discussion also touched on the importance of a “full use” of the potential of ties in tourism, energy, and transport.
The 84 percent increase ($190 million) in the trade turnover between the countries over the past nine months was highlighted by the officials.
The Georgian PM chaired the delegation that arrived in Abu Dhabi early on Monday to hold “high-level meetings”.
Levan Davitashvili, the vice prime minister and minister of economy and sustainable development, Ilia Darchiashvili, the minister of foreign affairs, and Revaz Javelidze, the head of the government administration were included in it.

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Bilateral cooperation between Kazakhstan and North Macedonia is to be strengthened

A joint statement of the Ministry of Foreign Affairs of the Republic of Kazakhstan and the Ministry of Foreign Affairs of the Republic of North Macedonia on further strengthening of bilateral cooperation is published by the Kazakh Foreign Ministry’s press service. A Joint Statement according to which: Kazakhstan and North Macedonia confirm their interest in developing a trusting political dialogue, building up trade, economic, as well as cultural and humanitarian cooperation in a spirit of openness and mutual understanding was adopted by the Parties following the talks held between Mr. Mukhtar Tileuberdi, Deputy Prime Minister – Minister of Foreign Affairs of the Republic of Kazakhstan, and Mr. Bujar Osmani, Minister of Foreign Affairs of the Republic of North Macedonia, on November 1, 2022 in Skopje. The decision of the Republic of Kazakhstan to open an Embassy in the Republic of North Macedonia in 2023, which will give an additional impetus to bilateral relations between the two countries, was welcomed by the Parties. The preparation and implementation of the official visit of H.E. Mr. Stevo Pendarovski, President of the Republic of North Macedonia, to Kazakhstan at the invitation of H.E. Mr. Kassym-Jomart Tokayev, President of the Republic of Kazakhstan, will be worked on by the both sides. The first meeting of the joint Intergovernmental Commission on Trade and Economic Cooperation which will be held in Skopje on November 3, 2022, will contribute to further increase of mutual trade, expansion and diversity of the structure of trade turnover. It is welcomed by the representatives of the both countries. North Macedonia’s priorities for the OSCE Chairmanship in 2023 are supported by Kazakhstan, and the significant progress in the process of integration of North Macedonia into the EU is noted. Kazakhstan also wishes successful implementation of the outlined plans. The intention to continue the practice of holding regular political consultations at the level of deputy foreign ministers is expressed by the Parties, and the 3rd round of consultations in Skopje in 2023 is agreed to be held. An 88% increase of the volume of mutual trade between the two countries in the first 7 months of 2022, compared to the same period in 2021, despite the coronavirus pandemic and the global economic crisis, is noted with satisfaction by the Parties. Further expansion of the bilateral legal and contractual framework by signing agreements in the trade and economic, cultural and humanitarian spheres, as well as in the field of security and the fight against organized crime, is agreed by the Parties. The importance of inter-parliamentary ties for interstate cooperation is acknowledged by the Parties, and the need for regular meetings of legislators, as well as their interaction at international events, is noted. The establishment of direct contacts between regions and universities, the exchange of tours of creative teams and the holding of Days of Culture in the territories of the two countries will be promoted by them. Common approach of the two countries on certain bilateral and international issues is noted, and each side will support initiatives within the framework of international organizations in conformity with the priorities and commitments of each side. A profound gratitude to the North Macedonia side for the hospitality during this visit was expressed by the Kazakhstan side.

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Prospects for expanding economic partnership are discussed by Azerbaijan and Moldova

Prospects for expanding economic partnership between the two countries were discussed by Azerbaijan’s Minister of Economy Mikayil Jabbarov and Prime Minister of Moldova Natalia Gavrilita at the meeting. According to Minister Mikayil Jabbarov, a great importance is attached to relations with Moldova by Azerbaijan, and he emphasized on a potential for strengthening economic and trade … Read more