Author’s post

Serbian President Aleksandar Vucic hosted his Ukrainian counterpart, Volodymyr Zelenskyy, in Belgrade. It demonstrates deepening of economic cooperation between the two countries, as they pledge to finalize a long-stalled free trade agreement by the end of the year. It was Zelenskyy’s first visit to Serbia since 2019, but the two leaders have met several times previously, most recently in Kyiv on July 15.
As Vucic said at a joint news conference, Serbia would support Ukraine’s bid to join the European Union and maintain its support for Ukraine’s territorial integrity. Nevertheless, Belgrade has refused to impose sanctions on Russia. For its part, Ukraine has not recognized Kosovo’s 2008 declaration of independence.
However, they have been discussing the proposed free trade agreement for more than twenty years. Now both sides are aiming to complete a deal by the end of the year. Serbia needs the agreement to join the World Trade Organization and then the EU. Since 2005, Ukraine has blocked the deal, as quotas and tariffs affected its agricultural sector. As both leaders pointed, the progress on the agreement signified strengthening economic ties. Also, Serbia promised to provide humanitarian aid and infrastructure and energy support to Ukraine this winter. According to Zelenskyy, they discussed joint infrastructure projects and cooperation on energy and food security before the winter.
The Ukrainian President also discussed economic and logistics projects with Serbian Prime Minister Duro Macut. The Danube Corridor and closer links between Ukraine, the Western Balkans and the EU were included. He expressed gratitude to Serbia for pledging 2 million euros ($2.3m) to support Ukraine’s energy sector.
As the Kyiv Post reports, Serbia’s Agriculture Minister Dragan Glamocic and Ukraine’s ambassador to Serbia Oleksandr Lytvynenko signed a memorandum on animal health and food safety.
Nevertheless, Vucic is doubtful about either Serbia’s or Ukraine’s rapid EU membership.
Serbian President does not expect the war in Ukraine to end soon. Despite its support of Ukraine, Belgrade has resisted joining Western sanctions against Moscow due to Serbia’s dependence on Russia for most of its gas. However, Serbia is trying to reduce some of its military dependence on Russia. An agreement to replace its ageing Soviet-era MiG-29 fighter jets with French Rafale aircraft illustrates this intention. In response to repeated accusations of selling ammunition that ultimately reached Ukraine through intermediaries, Belgrade has denied supplying ammunition to Ukraine.
NH Logistics UKR 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.

Source Link

As data from the State Customs Committee Trade showed, turnover between Azerbaijan and Georgia attained $574.9 million in January–June 2026. It is a 45.2% increase (up $179.04 million) compared to the same period last year. According to the data, Azerbaijan’s exports to Georgia demonstrated a 52.5% increase during the reporting period ($502.8 million in total). Meanwhile, imports from Georgia showed a 8.9% growth ($72.1 million). Notably, 2.3% of Azerbaijan’s total foreign trade turnover accounted for Georgia during the reporting period. Also, 3% of Azerbaijan’s total exports accounted for exports to Georgia. However, imports from the country accounted for 0.8% of total imports. In conclusion, the total volume of Azerbaijan’s foreign trade turnover with international partners increased by 1.1% compared with the same period a year earlier and attained $24.7 billion in the first half of 2026.
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 statistical office said on Friday, Serbia’s trade deficit narrowed by an annual 14% to 3.7 billion euro ($4.2 billion) in the first six months of 2026.
According to the data released by the statistical office, exports grew by 8.3% on the year to 18 billion euro In January-June. Meanwhile, imports increased by 3.7% to 21.7 billion euro.
Also, in the review period the export-import ratio attained 82.9%, compared to 79.4% in the first six months of 2025.
Electrical machines were Serbia’s most exported products in January-June (1.9 billion euro). Then followed road vehicles (1.87 billion euro), metal ores and residues (1.3 billion euro).
Electrical machines (1.6 billion euro), oil and oil derivatives (1.4 billion euro), and road vehicles (1.2 billion euro) constituted Serbia’s imports.
Germany (2.7 billion euro), Italy (1.5 billion euro) and China (1 billion euro) were Serbia’s main export destinations In January-June. Serbia imported goods mainly from China (3.4 billion euro), Germany (2.5 billion euro), and Italy (1.5 billion euro).
Nevertheless, Serbia’s trade gap widened from 454.9 million euro to 777.5 million euro deficit in June. Exports showed a 9% increase on the year and attained 3.2 billion euro in June. Meanwhile, the growth of imports was 17.3%. The total volume reached nearly 4 billion euro. The expansion of Serbia’s trade deficit in 2025 was 2.9% (8.8 billion euro).
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

On July 14 the Ukrainian parliament ratified the free trade agreement with Turkey.
The sides have been negotiating the agreement since 2007. Balancing Ukraine’s interest in gaining access to Turkey’s heavily protected agricultural market with Turkey’s push to export more industrial goods to Ukraine was the central challenge. Heightened competition was what producers in sensitive sectors on both sides feared.
According to the agreement, Turkey will immediately eliminate tariffs on 93.4 percent of Ukrainian industrial goods and 7.6 percent of agricultural products. It will also remove tariffs on an additional 1.5 percent and 28.5 percent, respectively, over the next three to seven years.
From its side, Ukraine will lift tariffs on 56 percent of Turkish industrial goods and 11.5 percent of agricultural products. Then, tariffs on an additional 43.2 percent and 53.7 percent over transition periods of up to five years for industry and ten years for agriculture will be phased out.
In general, the main goal of the free trade agreement is to expand bilateral commerce toward the $10 billion target. The Ukrainian Ministry of Economy reports that bilateral trade reached $8 billion in 2025. Ukrainian exports totaling $2.7 billion makes Turkey Ukraine’s third-largest trading partner and second-largest export market. Though Ukraine has traditionally maintained a trade surplus with Turkey, Ukrainian exports have declined. Meanwhile, imports of Turkish machinery, vehicles, fuel, equipment, and construction materials increased.
Now, approximately 77 percent of Ukrainian exports to Turkey account for grain and sunflower oil. Turkish companies process much of this production into higher-value products, such as flour and consumer foods. Then, they sell it domestically or re-export to third markets. As a result, Turkey generates much of the added value rather than Ukraine.
The new framework improves access for processed foods, feed concentrates, and
more deeply processed oil products, while many Ukrainian commodities already enter Turkey at low or zero rates.
However, high competitiveness of Turkish textile, machinery, fruit, and vegetable producers makes their Ukrainian counterparts face high energy costs, and labor shortages. The agreement’s formal scope doesn’t include defense cooperation, but the agreement’s ratification means mutual trust. A more predictable environment for investment, component supply chains, joint production, and access to third-country markets also appears.
As Ankara has also indicated, it is ready to contribute to future security guarantees for Ukraine as its maritime component alongside NATO allies.
However, Ukrainian and Turkish interests don’t always coincide. From its side, Kyiv expects partners to increase economic pressure on Russia. Meanwhile, Ankara, tries to avoid further military escalation in the Black Sea. In case of proper implementation, the ratification of the free trade agreement marks yet another step in bringing Kyiv and Ankara closer together.
NH Logistics UKR 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.

Source Link

A pilot electronic exchange of international road transport permits between Kazakhstan and Georgia comes into force from July 22, 2026. It is a major step toward the digitalization of cross-border freight operations. As Kazinform reports, the sides reached the agreement during a meeting of the Kazakhstan-Georgia Joint Commission on International Road Transport in Astana. According to the initiative, Georgia and Kazakhstan will issue and exchange transport permits through the e-Permit digital platform on a trial basis. They expect the system to streamline administrative procedures, enhance transparency, and accelerate the processing of freight transport
documents. The introduction of an unlimited permit regime once the transition to fully electronic document exchange is completed is also in plans. The growing volume of bilateral and transit cargo transportation showed the strategic roles of the two countries in key international transport corridors. Kazakhstan and Georgia agreed to exchange an additional 6,000 transport permits for 2026 to support rising demand. The countries also approved a preliminary quota of 20,500 permits for 2027. It will be 6,000 permits more compared to the previous period. The aim is to open new opportunities for freight carriers, strengthen regional logistics connectivity, and deepen trade and economic cooperation between Kazakhstan and Georgia.
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

Berlin increases imports of Ukrainian food products, which makes trade ties between Ukraine and Germany stronger. For example, honey exports grew by 15.8% year-on-year in the first half of 2026 and brought Ukraine $61.65 million. Nevertheless, export volumes fell to 17,700 tons (a 27.5% decline).
26.71% of export revenue from honey exports accounted for Germany. Then followed France (20.31%) and Poland (11.18%).
Also, exports of Ukrainian pasta and couscous increased in the 2025/2026 marketing year by about 130% compared with the previous season (29,500 tons). Again, 6,400 tons, or 21.6% of Ukraine’s total exports of pasta and couscous, went to Germany.
The second buyer, Moldova, imported 3,000 tons, or 16.9%. Then followed the United Kingdom with 2,700 tons, or 9%. Romania and Latvia imported 2,600 tons and 2,300 tons, respectively.
According to the data, Germany is becoming an increasingly important market for Ukrainian food exporters. It supports the diversification of Ukraine’s agricultural and processed-food exports into the EU.
NH Logistics UKR 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.

Source Link

According to Fitch Ratings, Serbia got BB+ credit rating with a positive outlook for its upgrade to investment grade for the fourth consecutive time.
Fitch explains Serbia’s credit rating by a stable mix of economic policies, a commitment to maintaining exchange rate stability, responsible fiscal management. High foreign exchange reserves and a higher gross domestic product per capita compared to countries with the same rating are also important.
Expectations of accelerated economic growth, fuelled by investments, stabilization of public debt at a relatively low level, and the economy’s resilience to external shocks are also basis for the positive outlook.
According to Fitch, Serbia’s economic growth accelerated in early 2026 and will remain stable due to the completion of projects from the “Leap into the Future” program. The holding of the EXPO 2027 international exhibition will be an additional impetus to growth in 2027.
Fitch expects economic growth to stabilize at around 3.5 percent per year. Also, gross domestic product per capita, expressed in dollars, would grow by about 50 percent between 2024 and 2028.
As Fitch estimates, Serbia’s current account deficit attained only 0.4 percent of projected GDP in the first four months. A smaller trade deficit, strong exports, especially in the automotive industry, a larger surplus in the exchange of services and an increase in remittance contributed to this.
A current account deficit of 4.5 percent of GDP is less than the 4.9 percent recorded the previous year, despite higher energy prices. They expect higher exports of tourism services related to the EXPO 2027 to cause a further decline in 2027.
As the agency estimates, net foreign direct investment inflows will stabilize at just below 3 percent of GDP in the period from 2026 to 2028.
As Fitch expects, Serbia’s fiscal policy will remain responsible despite the potential upcoming election cycle. The agency estimates the fiscal deficit in 2026 at 3 percent of GDP, despite support measures for vulnerable groups and pensioners worth around 0.6 percent of GDP.
As the report shows, higher fiscal measures will cover these revenues. Meanwhile, they expect the fiscal deficit to decrease to 2.5 percent of GDP by 2028. This is in line with the goals defined in the arrangement with the International Monetary Fund.
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

A meeting between Serbian Minister of Foreign Affairs Marko Djuric and Brazil’s Ambassador to Belgrade, Maria Clara de Abreu Rada took place today. They discussed Djuric’s recent visit to Brazil and the next steps in advancing bilateral cooperation.
According to him, Serbia and Brazil share a common understanding on a wide range of issues and are interested in further strengthening cooperation in such areas as agriculture, trade and investment, air transport.
Djuric added that developing cooperation between the diplomatic academies of Serbia and Brazil got a particular attention during the meeting.
The Serbian Minister expressed gratitude to his Brazil’s partners for their hospitality during his recent visit and confidence in the positive momentum in bilateral relations.
During talks with Djuric, the Brazilian Foreign Minister Mauro Vieira stated that his country would consistently respect the sovereignty and territorial integrity of Serbia.
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 https://nh-logistics.com/our-news/news/serbia-brazil/

A digital permit system for road freight transportation between Georgia and Türkiye has been launched be the Land Transport Agency.
According to the agency, international freight carriers operating between the two countries can obtain and use transport permits entirely in digital format.
As officials note, the system will simplify administrative procedures and reduce the use of paper documents. It will also improve the efficiency of international cargo transportation and speed up the issuance and verification of permits.
According to Bakur Mikadze, Director of the Land Transport Agency, the digital permit system is based on a bilateral principle. It means that both countries use a single electronic platform for the exchange and registration of permit documents. He added that this new mechanism ensures fast and secure data exchange, reduces technical and administrative delays. It also makes administering international road freight transportation more transparent and modern.
As the agency says, the introduction of digital permit mechanism is an important step in the development of international road freight transportation. The successful implementation of the electronic ECMT (European Conference of Ministers of Transport) multilateral permit system is also a crucial point.
According to the agency’s expectations, the transport and logistics sector will develop due to the changes. Also, international trade will become more simple and Georgia’s role as a regional transit hub will strengthen.
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

According to the Kazakh government, Prime Minister of Kazakhstan Olzhas Bektenov and Prime Minister of Georgia Irakli Kobakhidze have discussed the expansion of bilateral trade and economic cooperation during talks held in Astana. In general, cooperation in trade, investment, transport and logistics, energy, and digitalization was the main focus of the discussions. Meanwhile, implementing agreements … Read more