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Almost 70 billion euros in goods were imported by the Netherlands from China between January and July 2023 (nearly 5 billion euros less compared to the same period last year). The most significant decline was shown by imports of computers and telephones. Nevertheless, 16 percent increase was attained by goods exports to China (11.8 billion euros in total). This information is based on new CBS and Eurostat figures.
A rise by 17 billion euros in 2022 partly caused by price increases was followed by the drop in import value.
A fall by over 45 billion euros (from 352 to 306.5 billion) was demonstrated by imports from China by the European Union as a whole in the first seven months of this year. Sharp decrease of imports of Chinese-manufactured goods by Germany (from 77 billion to 57 billion euros) was responsible for the decline.
The first place in imports of goods from China within the EU during the first seven months of 2022 was taken by Germany; in the same period of 2023 this position was taken by the Netherlands. Telephones (-1.2 billion), computers (-4.6 billion) and semiconductors (+1.6 billion euros) were mainly imported by the Netherlands.
Virtual stability characterizes goods exports from the EU to China. A fall by 8 percent to just under 58 billion euros in the period January – July 2023 was shown by German exports to China.
A higher export value of machinery and equipment (+898 million euros), medicines (+401 million) and medicinal and pharmaceutical products (+188 million) was the main reason of the growth of the Netherlands’ export to China.
The index of 10 percent was exceeded by China’s share in total Dutch goods imports (excl. transit trade) for the first time in 2020, but it fell to 9 percent again in 2022. Dutch imports of raw materials and semi-manufactured goods from China have decreased from 6.8 percent in 2020 to 5.1 percent in 2022, versus 5.5 percent in 2015.
Lower import dependency on China was shown by service sectors (IT and information, financial and business services) over the past few years. 32 percent of IT and information services’ raw materials and semi-manufactured goods were still imported from China in 2019. In 2022 this was 17 percent. Telecommunications was the most dependent sector (nearly 29 percent import dependency in 2022).
The value added after deducting the cost of imports for manufacturing of the goods or provision of the services (net export earnings) from trade with China attained nearly 7.1 billion euros in 2022 (31 million euros (0.4 percent) less than in 2021). Lower net export earnings in services (-432 million euros) caused the decrease. On the other hand, an increase (+400 million euros) was shown by net earnings from goods exports.
Machinery and equipment (especially chip-manufacturing machines) brought the highest profit in goods exports over 2022 to the Netherlands (1.5 billion euros), followed by processed foodstuffs such as baby milk powder (1.1 billion euros) and meat (379 million euros). Processed foodstuffs (+370 million euros), machinery and equipment (+192 million euros) and semiconductors (+174 million euros) showed the largest increases last year; medicine exports (-122 million euros) and passenger car exports (-95 million euros) demonstrated the largest declines in earnings last year.
A drop in earnings from intellectual property rights (royalties; -511 million euros) was the main cause of the decline in export earnings from China in 2022.

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According to primeminister.kz, Prime Minister of Kazakhstan Alikhan Smailov and Minister of Trade of South Korea Ahn Duk-geun discussed issues of realization of new joint investment projects.
Great prospects for further development of trade and economic cooperation between Kazakhstan and South Korea were emphasized by Prime Minister during the meeting. The dynamic growth of trade turnover supports this point of view: 2.3 times growth last year (more than $6.1 billion) and an increase by another 11% for 8 months of this year.
Alikhan Smailov said that, according to him, joint efforts are needed to expand the nomenclature of mutual trade. For example, the Kazakhstan-Korea Intergovernmental Commission in the sphere of trade-economic and scientific-technical cooperation is an important tool here.
Another fact noticed by him was South Korea’s consistent presence among the top 10 largest investors in the economy of Kazakhstan (about $9.2 billion of investments over the past 18 years). A new record volume of $1.5 billion was reached last year due to the gross inflow of direct investment from Korea (85% increase).
Prime Minister said that more than 700 Korean enterprises are currently operating in Kazakhstan, the largest of which are KIA, Hyundai, Samsung and LG.
They are working out 5 projects worth $1.5 billion and 25 more promising projects worth about $500 million today. The construction of a new large plant KIA with a total investment of $190 million and production capacity of 70 thousand cars per year in the city of Kostanay can be given as a striking example.
As Alikhan Smailov added, the Government of Kazakhstan will continue to create all necessary conditions for comfortable work of investors in the country.
According to Ahn Duk-geun, South Korea is ready in its turn for active technological cooperation with Kazakhstan in various sectors of the economy.
The South Korean Minister of Trade emphasized the importance of such projects as the KIA plant in Kazakhstan. Successfully implemented, they will make Kazakhstan’s automobile industry become an example and facilitate the construction of other similar plants and production facilities.

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According to the ministry’s press service, Hors Classe Adviser of the European Commission Henrik Hololei said at the meeting with Kazakh Deputy Foreign Minister Nazira Nurbayeva held on Oct. 19 that Kazakhstan’s aspiration to become a transportation and logistics hub are supported by the European Union (EU).
Hololei said that participation in infrastructure projects and the attraction of private investments are offered to Kazakhstan by the EU to help the country achieve this goal.
Utilizing Kazakhstan’s transport and logistics capacity, increasing transport sector harmonization in Central Asia and the Caucasus and promoting aviation cooperation became the main goals of the actions to diversify transit routes between Asia and Europe.
Delivering major railway projects and building new logistics facilities to improve the competitiveness of Kazakhstan were emphasized by Nurbayeva.
Measures to improve transport connectivity between Central Asia and the EU were elaborated and optimal transport links between Central Asia and the EU Trans-European Transport Network were identified, as the European Bank for Reconstruction and Development study suggested.

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The exports of Georgia (excluding non-declared exports) reached USD 4 607.4 million (12.7 percent growth) in January-September 2023. Domestic exports constituted 47.2 percent of the total export and attained USD 2 172.7 million (22.5 percent down compared to the same period of 2022).
The top ten trading partners by domestic exports (Russia (USD 412.3 million), Türkiye (USD 290.5 million) and China (USD 235.0 million) had the share of 75.2 percent in the total domestic exports of Georgia in January-September 2023.

The first place in the list of top export items was claimed by copper ores and concentrates during the reporting period (USD 433.0 million, or 19.9 percent of total exports). The share of the exports of wine of fresh grapes in the total exports amounted to 8.9 percent (USD 193.0 million). The third place was occupied by the exports of ferro-alloys (USD 140.1 million, 6.4 percent of the total exports).

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Georgia’s external merchandise trade (excluding non-declared trade) rose up by 16.5 percent in January-September 2023 compared to the same period of 2022 and reached USD 15 910.8 million. The growth of exports equaled to 12.7 percent (USD 4 607.4 million), while the imports increased by 18.2 percent (USD 11 303.4 million). The share of the negative trade balance in external trade turnover during the reporting period constituted 42.1 percent (USD 6 696.0 million).
The top ten trading partners by exports (Azerbaijan (USD 632.7 million), Armenia (USD 601.5 million) and Russia (USD 511.8 million) had the share of 80.5 percent in the total exports of Georgia during the reporting period.
The top ten trading partners by imports (Türkiye (USD 1 861.2 million), USA (USD 1 399.4 million) and Russia (USD 1 364.3 million) had the share of 70.8 percent in the total imports of Georgia in January-September 2023.
The top ten trading partners of Georgia in the total external trade turnover (Türkiye (USD 2 195.8 million), Russia (USD 1 876.0 million) and USA (USD 1 471.8 million) had the share of 68.8 percent in the total external trade turnover in January-September 2023.
The first place in the list of top export items was claimed by motor cars (USD 1 566.1 million and 34.0 percent of total exports) during the reporting period. The share of the exports of copper ores and concentrates in the total exports amounted to 9.5 percent (totally USD 438.1 million). The third place was occupied by the exports of wine of fresh grapes (USD 193.5 million, 4.2 percent of the total exports).
Motor cars were the top import commodities in January-September 2023 (USD 2 282.5 million, 20.2 percent of the total imports), followed by the petroleum and petroleum oils in (USD 816.4 million, 7.2 percent of imports). The third place in the top import commodity list was occupied by the medicaments put up in measured doses (USD 392.4 million, 3.5 percent of imports).

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A three-day maritime event hosted by the Embassy of the Kingdom of the Netherlands in Bangladesh began in Dhaka on Thursday, together with Bangladesh’s largest maritime and offshore exhibition, BIMOX 2023.
They will organize a series of events, including a business networking event, seminar and match-making, to facilitate knowledge exchange and promote partnerships during the three-day “Maritime Future is Now: The Netherlands Approach to New Opportunities” program.
The first ever Netherlands Pavilion in Bangladesh is located in Hall-02 of the International Convention City Bashundhara (ICCB), Dhaka.
According to the embassy, the promotion of sustainable economic development and enhancing Dutch-Bangladeshi business partnerships in the maritime sector are the goals of the event.
The ceremony was also visited by senior officials from the Ministry of Shipping and Port Authorities.
Good insight into the rich expertise and innovative solutions in various areas of the Netherlands maritime sector will be offered by the seminar on “The Maritime Future is Now – The Netherlands Approach to New Opportunities”, scheduled to be conducted in the afternoon.
A future in which their innovations can help create vibrant, green and connected port cities and develop smart and zero-emission shipping is being promoted by the Dutch maritime sector.
Insights in the future of the maritime sector in Bangladesh will be offered by the Bangladesh side.
An “important milestone” in the longstanding relationship between the Netherlands and Bangladesh, particularly in the field of maritime cooperation as the bilateral relation, focusses increasingly on mutually beneficial trade and investment will be marked by the seminar.
The chief guest of the seminar will be Md Mostafa Kamal, Senior Secretary, Ministry of Shipping.
According to the Embassy, the strong ties between both countries and the mutual interest in further developing maritime and offshore industries will be shown by the participation of fifteen Netherlands maritime companies in the seminar.
Diverse sectors including shipbuilding, port infrastructure, maritime, delta technology and more are represented by such companies as: Boskalis, CDR International B.V., Damen Shipyards, Delta Context B.V., Heinen and Hopman, Hydromaster Propulsion, MELCAL Marine B.V., Marin, STC-Nestra BV, OCEANBOUND, Royal Haskoning DHV, Royal IHC, TerraworX, Van Oord and V-Step Simulation.
All visitors will be able to see the BIMOX 2023 exhibition and Netherlands pavilion till Saturday.

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As Minister of Foreign Affairs and Trade, Péter Szijjártó, said in Budapest on Tuesday, Germany and Hungary are allies and strategic partners, with the multifaceted network of relations established over the past decades linking national economies, municipalities, the cultural, educational and scientific spheres and communities.
The reunification of Germany was described by the statement issued by the Ministry of Foreign Affairs and Trade at the occasion of the German Unity Day as a fateful event that fundamentally changed the course of history in Europe. Certain 20th century’s historical facts, when “families and friends were separated, German from German, Hungarian from Hungarian, and even Hungary from Europe,” were referred to in his speech. The minister underlined that during the decades of the Cold War they learned that there was nothing good for them in a blockaded world.
According to Szijjártó, the two countries had seized the opportunity of freedom that came with the fall of the Iron Curtain, and had been able to develop rich and diverse cooperation in recent decades. He pointed out that, despite certain disagreement, the crises have reinforced the need for interdependence between the parties. He also added that it was necessary to work together as closely as possible to achieve strategic goals such as improving European competitiveness, cooperation on innovation, defense, and international development, while promoting the integration of the Western Balkans.
Moreover, the fact that bilateral trade turnover between Germany and Hungary reached a record high of almost EUR 70 billion last year, and is expected to reach another record high this year, demonstrated that Germany is Hungary’s most important economic partner. Jobs for some 300,000 people are now provided by German companies, that makes Germany the number one investor community in Hungary. Government support for their investments has been received by 187 German companies in the last nine years. They pay the lowest taxes in Europe and can operate in the security provided by the most stable political system in Europe.
In conclusion, the German-speaking community in Hungary was described by Szijjártó as a strong link, growing year by year and strengthening its identity. For example, nearly 400 twinning contacts and hundreds of school partnerships have been established in the last thirty years. A unique opportunity in Europe to study in German from nursery school to PhD level in Hungary will be provided by Andrássy University, the “flagship of educational cooperation,” the only German-language higher education institution outside the German-speaking area.
The freedom movement is symbolized by the success of the Pan-European Picnic, the opening of the borders and the German reunification.
Impossibility to suppress people’s desire for freedom was shown and a stronger basis than ever to continue together on the path of freedom and cooperation to make Europe strong and successful was created by that.

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As Georgian Prime Minister Irakli Garibashvili said at the Official Reception marking the 74th Anniversary of the People’s Republic of China, Georgia has been historically positioned as a natural bridge between Europe and Asia and an integral part of the ancient Silk Road. He also mentioned that Georgia’s strategic location enables it to contribute to the revival of the Silk Road under the Belt and Road Initiative (BRI) through the Middle Corridor.
According to Irakli Garibashvili, Georgia can boast of its distinct history, unique traditions and progressive aspirations, but it also acknowledges a strong bond with China.
He said that he was pleased to highlight the countries’ well-established and fruitful cooperation, evident across various fields of mutual interest – from infrastructure and trade to education and tourism.
The Prime Minister said that the Free Trade Agreement (FTA) between Georgia and China, which came into force in January 2018, has played a pivotal role in fostering greater trade between our nations. China is consistently among Georgia’s top 3 trading partners.
According to the PM, Georgia-China cooperation at the governmental level is booming, with various ministries, agencies, and regions actively engaged in collaborative efforts. He said that this multifaceted cooperation undoubtedly demonstrates the countries’ dedication to achieving common goals.
He also stated that active cooperation with China in the fields of culture and education is welcomed. The growing enthusiasm among the Georgian people for the Chinese language and culture, establishing a basis for fostering meaningful people-to-people exchanges, is extremely delightful to observe.
A decree introducing visa-free travel for Chinese citizens has been recently issued with this understanding. Georgia’s unwavering commitment to strengthening the amicable bonds with China is reflected by this decision. Greater cultural exchange and tourism flows between the two countries is expected to be facilitated by this initiative.
In conclusion the Prime Minister of Georgia expressed his confident that the bilateral strategic partnership will continue to flourish, bringing prosperity and mutual benefits to the both nations.

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A strategic document that formally begins negotiations on free trade with the UAE was signed today in Dubai by the Serbian Minister of Internal and External Trade, Tomislav Momirović, and the Minister of External Trade of the United Arab Emirates (UAE), Thani bin Ahmed Al Zeyoudi.
According to Momirović’s post on his Instagram profile, the trade between the two countries and the convergence of the two economies will be expedited by this agreement. He stated that economic relations between Serbia and the UAE are combined with good political relations and are realized through trade cooperation, investment projects as well as strategic partnerships and pointed out that he tried to animate as many companies from the UAE as possible to relocate their operations to Serbia.
Momirović added that many companies from Serbia and the UAE are successfully operating in both markets as part of joint investment projects in agriculture, transport, mining and energy (Etihad Airways, Al Dahra, Eagle Hills Properties, DP World, Elixir Group).

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The external merchandise trade (excluding non-declared trade) of Georgia reached USD 14 005.0 million in January-August 2023 (16.8 percent higher than in 2022). The exports grew up by 14.4 percent and reached USD 4 079.4 million. The imports increased by 17.8 percent and achieved USD 9 925.7 million. The share of the negative trade balance in external trade turnover constituted 41.7 percent and equaled to USD 5 846.3 million in January – August 2023.
The share of the top ten trading partners by exports in the total exports of Georgia attained 81.0 percent in the reported period. Azerbaijan (USD 567.8 million), Armenia (USD 552.3 million) and Russia (USD 461.4 million) were the top partners.
The share of the top ten trading partners by imports in the total imports of Georgia reached 70.8 percent in the reported period. Türkiye (USD 1 644.7 million), Russia (USD 1 225.5 million) and the USA (USD 1 190.1 million) were the top partners.
The share of the top ten trading partners in the total external trade turnover of Georgia stood at 68.7 percent in the reported period. Türkiye (USD 1 944.0 million), Russia (USD 1 686.9 million) and USA (USD 1 240.0 million) were the top trading partners.
The first place in the list of top export items In January-August 2023 was claimed by motor cars with USD 1 368.4 million (33.5 percent of total exports). Total exports of copper ores and concentrates reached USD 411.7 million (10.1 percent of the total exports). The third place was occupied by the exports of wine of fresh grapes (USD 169.3 million and 4.2 percent of the total exports).
Motor cars were the top import commodities in the reported period with USD 1 957.8 million (19.7 percent of the total imports). They were followed in the list by the petroleum and petroleum oils with USD 716.2 million (7.2 percent of imports). The third place in the top import commodity list was taken by the medicaments put up in measured doses with USD 354.3 million (3.6 percent of imports).

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