A decrease by 103.2 million USD is shown by the trade turnover with Armenia

GEOSTAT data reports that trade between Georgia and Armenia reached 100.623 million USD in January-February 2024 (103.2 million USD less than in the same period of the previous year).
Compared to the same period of 2023, exports from Georgia fell down from 133.082 million USD to 78.795 million USD in January-February 2024.
Imports decreased by almost 50 million USD compared to the same period of 2023 year and attained 21,828 million USD.
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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EU’s trade support for Ukraine is extended with safeguards for EU farmers

A provisional agreement on extending trade liberalization measures for Ukraine in the face of Russia’s war of aggression was reached by the EU Parliament and Council on Wednesday.
EP stated that they will renew the temporary suspension of import duties and quotas on Ukrainian agricultural exports to the EU for another year, until 5 June 2025, to support Ukraine amidst Russia’s continuing war of aggression.
At the same time, swift action can be taken and any measures can be imposed by the European Commission in case if Ukrainian imports make any significant disruption to the EU market or the markets of one or more EU countries.
The current regulation admits the application of an “emergency brake” “for particularly sensitive agricultural products, namely poultry, eggs, and sugar.” MEPs promised that oats, maize, groats, and honey won’t be included in this list.
Firm commitments from the European Commission to take action if there is a surge of Ukrainian imports of wheat were also attained.
They will re –impose tariffs if imports of these products exceed the average volume of the previous two years.
According to Sandra Kalniete (EPP, Latvia), EU’s continued commitment to stand by Ukraine in the face of Russia’s brutal war of aggression until Ukraine’s victory is reinforced by this agreement.
Meanwhile, EU farmers’ concern made the European Parliament expand protective measures to reduce the pressure on the agricultural sector in the event of a sudden surge in Ukrainian imports.
Autonomous trade measures allowing duty-free access for all Ukrainian goods introduced by the EU after Russia’s full-scale invasion of Ukraine were extended for 12 months in 2023.
Farmers are protesting against agro imports from Ukraine in several EU member states, including Poland.
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.

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Turkey’s Prime Minister expressed a desire to deepen trade relations with Georgia

The series of terrorist attacks occurring in Turkey in the recent past were strictly condemned by Georgia’s Prime Minister Giorgi Kvirikashvili at the meeting with his Turkish counterpart Binali Yildirim at Dolmabahce Palace in Istanbul today.
During his working visit to Turkey Kvirikashvili attended the opening of the Eurasia Tunnel, discussed bilateral issue and planned further deepening of economic relations between the two states with Binali Yildirim.
According to the Turkish official notes, the country had been Georgia’s number one trade partner since 2007.
According to Yildirim, Turkey supported Georgia’s European and Euro-Atlantic integration and its territorial integrity.
As Kvirikashvili stressed in his speech, Turkey’s role in ensuring regional stability was “huge” and that he attached great importance to Turkey’s demonstrated support for Georgia.
The meeting between Kvirikashvili and Turkish President Recep Tayyip Erdogan will also take place in Istanbul.
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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Turkey, Russia, China were Georgia’s top trading partners in January with external trade up 14.8%

As the National Statistics office said on Monday, Turkey ($232.6 million), Russia ($190 million) and China ($96.4 million) were the top trading partners of Georgia in its total external trade turnover in January.
Kyrgyzstan ($46.2mln), Russia ($41.6mln) and Azerbaijan ($40.9mln) were Georgia’s top trading partners by exports, while Turkey ($203.1mln), Russia ($148.4mln) and China topped ($76.4mln) imports.
Motor vehicles ($112 million, 33.1 percent of total exports), ferro-alloys ($19.4 million, 5.7 percent) and wine ($18 million, 5.3 percent) were the top export items.
Motor vehicles ($101.4 million, 10.1 percent of the total imports), petroleum and petroleum oils ($80.4 million, 8 percent), petroleum gases and other gaseous hydrocarbons ($66.8 million, 6.7 percent) were included in the list of the three top import commodities.
Totally, Georgia’s external trade turnover showed a 14.8 percent year-on-year increase and reached $1.34 billion in January.
A decrease by 26.2 percent was shown by the value of exports ($338.6 million in total), and also by 10.1 percent by imports ($1 billion) in the reporting period.
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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A 15% increase was attained by the trade turnover between Georgia and the EU in 2023

According to the report of Ministry of Economy and Sustainable Development, Georgia’s trade turnover with the European Union increased by 15% last year and amounted to 4.5 billion dollars.
Genadi Arveladze, Deputy Minister of Economy and Sustainable Development, said that such Georgian export products as mineral water, fruit and vegetable preserves have increased.
According to Arveladze’s, the decrease in copper ores and ferroalloys in the EU market and also in other international markets caused 16.7% of the 18% of the total decrease.
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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Trade liberalization between Ukraine and EU was discussed by Shmygal and Dombrovskis

As Prime Minister of Ukraine Denys Shmyhal said during a joint briefing with Executive Vice President of the European Commission Valdis Dombrovskis, agreements in principle on further tariff liberalization of the trade regime between Ukraine and the European Union within the current cadence of the European Commission are necessary for Ukraine.
Autonomous trade liberalization measures needed for Ukraine’s further economic integration into the EU market were also discussed during the meeting. As Prime Minister said, the constructive approach of the European Commission in developing an initiative to extend autonomous trade liberalization measures for the state until June 2025 are supported by Ukraine.
He emphasized on the positive vote in the European Parliament’s committee on this issue and expressed his hope for a balanced position of the European Parliament during the vote on the extension of such measures and the approval of the European Commission’s proposal without any amendments.
Shmyhal noted that the mechanism provided for in Article 29(4) of the EU-Ukraine Association Agreement primarily provides such opportunities for Ukraine.
The Prime Minister expressed his conviction that they must set ambitious goals and work together to achieve them.
Ukrinform reported that the extension of trade liberalization measures to support Ukraine and Moldova was approved by the European Parliament’s Committee on International Trade on Thursday.
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.

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Paths for deeper cooperation are forged by Azerbaijan and Serbia

The growing momentum in bilateral relations between the two nations is highlighted by the recent meeting between Azerbaijan’s Minister of Labor and Social Protection of Population and Co-Chair of the Intergovernmental Commission on Trade and Economic Cooperation, Sahil Babayev, and Serbia’s Ambassador to Azerbaijan, Dragan Vladisavljević.
The significant progress was achieved in Azerbaijan-Serbia relations, and the bilateral ties have been elevated to the status of a strategic partnership.
Mutual appreciation for the expanding scope of relations and the notable increase in trade turnover between Azerbaijan and Serbia marked the discussions between Minister Babayev and Ambassador Vladisavljević. Intergovernmental Commission on Trade and Economic Cooperation played the active role in fostering closer economic ties between the two nations.
Serbia’s steadfast determination to broaden its engagement with Azerbaijan, was reaffirmed by Ambassador Vladisavljević.
The parties directed their attention towards exploring the current state and future prospects of cooperation across multiple sectors (energy, transport-logistics, social welfare, agriculture, education, humanitarian aid, infrastructure) during the meeting. Eagerness to capitalize on existing synergies and explore new avenues of collaboration to unlock the full potential of their partnership was expressed by both sides.
Opportunities for mutually beneficial cooperation with Serbia in the energy sector are presented by Azerbaijan’s expertise and resources. Trade flows between the two countries and beyond are smoothed and connectivity is enhanced due to collaborative efforts.
Economic growth and regional connectivity can be bolstered further due to strengthening infrastructure ties and cooperation in social welfare, agriculture, education, and humanitarian initiatives. It will contribute to the well-being and development of both countries.
A shared commitment to fostering peace, stability and prosperity in the region makes Azerbaijan and Serbia cooperate deeper and cooperate resiliently to benefit their peoples and contribute to regional development.
A renewed commitment to advancing Azerbaijan-Serbia relations across multiple fronts is signaled by the meeting between Minister Sahil Babayev and Ambassador Dragan Vladisavljević. Both countries are willing to unlock new opportunities and cement their status as valued partners on the global stage. To do that, they explore avenues for cooperation.
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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Tusk might shut Poland’s border for Ukrainian agriproducts as temporary measure

Poland is eyeing the possibility of temporarily closing the border for Ukrainian products as the cap on the import of agricultural products from Ukraine to Poland, proposed by Brussels and Kyiv, are “unacceptable” for Warsaw.
Donald Tusk, the head of the Polish government, expressed this point of view at a joint press conference with Norwegian Prime Minister Jonas Gar Støre in Warsaw on Wednesday.
According to the Polish prime minister, Warsaw was ready for a “serious conversation” about the cap on Ukrainian agricultural products coming into Poland, but the caps proposed by Brussels and Kyiv turned out to be unacceptable.
As much agricultural products could enter from Ukraine duty-free as on average in 2022-2023, thought there was an attempt to slightly limit their flow. Moreover, according to Poland’s point of view, this measuring period should not be the years 2022-2023, when the war was already going on, but the period before the war. It will reduce harm done to Poland’s producers by making the caps stricter.
Tusk said that Poland is in dialogue with Ukraine about the temporary closure of the border and the complete shutdown of trade. He emphasized the necessity of talking about this with Polish farmers, because it would also affect Poland, even though this would be a temporary solution. Meanwhile, trade balance with Ukraine remains positive.
The holding of an agrarian summit was announced in Warsaw on Thursday. The leaders of all agrarian organizations protesting in Warsaw and on the border with Ukraine will attend it, as they hope to solve their problems.
Tusk says that the Polish side is looking for solutions that will protect the Polish and European markets from the influx of much cheaper agricultural products from Ukraine.
According to Ukrinform, protests of Polish farmers against the European green agenda and the influx of Ukrainian agricultural products into the domestic market held in Warsaw on February 27 are planned to repeat on March 6.
Protests of Polish farmers on the roads leading to checkpoints near the border with Ukraine have been held since February 9, 2024. Protesters demand a ban on the import of Ukrainian agricultural products and rejection of the EU’s green course.
They recorded five cases of dumping of Ukrainian agriproducts from freight rail cars onto the rail tracks or on the roads.
According to Marcin Kerwinski, Minister of Internal Affairs of Poland, the dumping of crops is unacceptable, and Polish authorities will respond to such manifestations of anarchy and detain the culprits.
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.

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Serbia invited Tokayev on official visit

According to Akorda, a phone conversation between Head of State Kassym-Jomart Tokayev and Serbian President Aleksandar Vucic took place.
The sides discussed the current state and prospects for the development of political, trade and economic cooperation during the telephone conversation, initiated by the Serbian side. Mutual interest in strengthening business ties and implementing joint investment projects in the fields of industry, agriculture, transport and logistics was expressed by the parties.
Points of views on a number of current issues of the international agenda were shared by the Presidents, and readiness to continue a constructive dialogue to ensure sustainable development and promote global peace and security was also expressed.
Akorda added that the leader of Kazakhstan was invited to visit Belgrade by the President 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.

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Growth by 400% is shown by the cost of shipping goods from Asia to Europe

Paolo Gentiloni, the European Commissioner for Economy, reports that cargo diversion as a result of the attacks in the Red Sea made the cost of shipping goods from Asia to Europe grow up by 400% and the time increase by 10-15 days.
The International Maritime Organization reports that, due to the attacks in the Red Sea, the number of ships able to move through the Suez Canal dropped down by 36%, and the reduction of cargo reached more than 60%. Fuel costs and the cost of ship insurance have significantly increased.
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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