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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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According to July’s release of the Government’s Office for National Statistics (ONS), the UK’s economy shrank by 0.5% and imports also fell by 0.4%.
Nevertheless, one bright light among the gloomy data is mentioned by the international delivery expert Parcel Hero. It is a 4.4% growth of the UK’s goods exports to the European Union (EU) (after taking inflation into account).
According to David Jinks, Parcel Hero’s Head of Consumer Research, Britain’s July exports to the EU soared by £0.5 billion over June, to £15.3bn. However, exports to non-EU countries decreased by £0.2bn (-1.3%). Does it mean that the Brexit-imposed restrictions are now having less impact?
The results can be compared only taking into account the pre-Brexit, pre-pandemic Britain of 2019: comparing July 2019 and July 2023’s results, there has actually been a £1.6bn rise in the value of Britain’s monthly EU exports (without considering inflation).
The Bank of England’s inflation calculator shows that July 2019’s EU exports of £13.7bn were actually worth around £16.6bn today in real terms, but this comparison doesn’t take into account changes in the relative value of the euro, for example.
The fact that Britain’s EU exports have actually fallen year-on-year is more concerning.
However Britain’s exports of fuels grew up by a £0.4bn due to increased exports of crude oil to the Netherlands and France and refined oil to Belgium.
Another example of Britain’s economy doing heavy lifting was a £0.2bn increase in exports of machinery and transport equipment to the EU, mainly contributed by the increase in mechanical power generators and mechanical machinery sales to the Netherlands.
According to Parcel Hero’s analysis, trading issues are setting down for larger exporters shipping to the EU, in spite of new red tape and Customs fees, particularly for products whose components (eg microchips) are sourced outside of the UK.
Nevertheless, the full impact of all the expected Brexit border regulations hasn’t been fully seen yet. There is hope for reaching a pragmatic solution to some of these issues for both the EU and the UK. The scrapping of plans for the controversial “UKCA” CE-replacement mark, on the majority of products, should serve as a good model for the future.
Obviously, a strong concern was caused by July’s drop in exports to non-EU countries, with the USA remaining the UK’s single largest individual overseas market. Despite some significant hurdles in US trade, the UK’s trade with this country has not suffered a similar upheaval.
Tariffs of 0% to 37.5%, with the typical rate being 5.63% are still applied to most UK goods exported to the US that are valued at over $800 (the US import tax threshold).

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According to primeminister.kz, the activation of cooperation in trade and economic and transport and logistics spheres were discussed by Alikhan Smailov, Prime Minister of the Republic of Kazakhstan, and Lin Wu, Secretary of the Party Committee of Shandong Province of China. As it was noted by Head of the Government, more than 6% of the total volume of trade between Kazakhstan and China falls on Shandong today. However, further promotion of Kazakhstan’s goods in the Chinese market and the search for new areas of cooperation is important for the country. This highlights a particular relevance of the development of transportation potential and deepening of cooperation within the framework of the “One Belt, One Road” initiative. The launch of the first return train on the route “China – Europe” for the delivery of Kazakh barley to the PRC, which took place the day before in Almaty, will facilitate this task. According to Alikhan Smailov, Kazakhstan is ready to increase the supply of Kazakhstani products along this route and expand the range of supplied goods and services. The importance of holding in Astana a Kazakh-Chinese forum on cooperation with Shandong Province was also emphasized by Prime Minister. He added that productive trade and investment interaction between the two countries’ business circles will be undoubtedly expanded by this event. The establishment of productive cooperation between Shandong Province and the regions of Kazakhstan was emphasized by Lin Wu in turn. Simultaneously, cooperation in the areas of deep processing of agricultural products, trade and construction of logistics infrastructure has a great potential to be expanded. Representatives of more than 100 enterprises of Shandong Province in the above sectors visited the event this time. A number of joint trade and economic projects is expected to be signed. According to Lin Wu, the both sides expressed their confidence in their future cooperation’s extension and deepening the partnership between their enterprises and realization of more joint projects, achieved through common efforts. Shandong Province is China’s important agricultural production area located on the east coast of the country. Wheat, cotton, peanuts, tobacco, bast crops, etc. are grown there. This province is one of China’s major horticultural and field-growing areas, leading aquaponics and silk cocoon breeding centers. A Memorandum of Cooperation under which Kazakhstan Temir Zholy and Shandong Port Group, China’s largest port operator, agreed to develop multimodal container services and related digital products was signed in December 2022.

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Due to robust growth following the COVID-19 pandemic, the Dutch economy has outperformed other eurozone economies. The Central Planning Bureau (CPB) attributes this success to the country’s resilience during the crisis and its strong recovery driven by export growth in 2021 and 2022. Furthermore, the Netherlands’ dependence on Germany, its primary trading partner, is gradually being reduced.
The well-known saying, “If Germany sneezes, the Netherlands catches a cold,” expresses the Netherlands’ historical reliance on Germany for economic stability. However, Germany’s importance for Dutch export market is diminishing. The COVID-19 crisis made this trend apparent, as Dutch exports continued to grow in spite of the German economy’s stagnation.
In 1980, 30% of Dutch exports were accounted for by Germany, but by 2021, this figure showed a 23% decrease. Brexit became a significant factor causing the decline of the share of Dutch exports to Belgium, France, and the United Kingdom. Belgium (11% of Dutch exports), France (8%), the United Kingdom (6.5%), the US (5%), Italy (4.5%), and China (2.5%) are now the most important trading partners of the Netherlands after Germany.
Dutch exports grow beyond Germany. Three types of exports are highlighted by the CPB: goods and services produced or processed in the Netherlands, re-exports (goods of foreign manufacture that are imported and then exported without substantial processing), and transit of goods passing through Dutch territory. The Netherlands’ exports and re-exports to other European countries increased, particularly to Eastern and Northern Europe, as well as to the US and Asian nations like China. Dutch economy got a significant benefit from the expansion of the EU and China’s rising economic importance.
A crucial role was played in international trade by Dutch-made products as they generated substantial earnings for the country. In 2020, 56 cents were earned by the Netherlands for every euro of export value on goods (totally 120 billion euros). The service sector contributed 100 billion euros due to the added value of 63 cents per euro. 14 cents per euro of export value were yielded by the re-exports (totally 34 billion euros in 2020).
The CPB called the Netherlands, particularly Rotterdam, “the world’s gateway to Europe,” due to its flourishing trade economy in Europe and beyond, recognizing the country’s significant role in facilitating international trade and commerce.

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A new “Alive with Opportunity” campaign was launched by the UK Business and Trade Secretary Kemi Badenoch on Thursday to help double trade with India by 2030 and to achieve other targeted trade missions for UK firms in high growth sectors.
According to the Cabinet minister who arrived in India on a three-day visit to attend the G20 Trade and Investment Ministerial Meeting in Jaipur and held bilateral talks with Commerce and Industry Minister Piyush Goyal in New Delhi, they hope for further free trade agreement (FTA) negotiations – now in their twelfth round of negotiations.
Also, going beyond the strong bilateral business and trade links to highlight shared cultural interests – from football and cricket, to food and films – is the aim of the new GBP 1.5-million “GREAT” marketing blitz.
Badenoch says that the UK and India have a thriving relationship and both countries share an ambition to deepen their cultural and trading ties. India is the UK’s second biggest source of investment projects and this new campaign will surely help boost interest in and demand for UK goods and services even further.
As the UK’s Department for Business and Trade (DBT) said while the G20 trade meeting, the minister will pitch for greater deployment of digital trade, which will cut red tape and make it easier for UK businesses of all sizes to buy and sell internationally.
Round 12 of the FTA talks hosted by New Delhi coincides with Badenoch’s visit and her meeting with Goyal will “take stock” of negotiations and agree how to progress a deal, which is expected to boost bilateral trade already worth GBP 36 billion in 2022.
According to the UK government, both sides have come forward with an ambitious set of asks and the latest phase of negotiations covers “complex, sensitive, and commercially meaningful issues, including goods, services, and investment.
As the DBT reiterated, getting the best deal for both sides, which will be signed only when there is a deal that is “fair, reciprocal and ultimately in the best interests of the British people and the UK economy”, remains the focus of the meeting.
The meeting between Badenoch and some of India’s major businesses across a range of sectors, including BP, HSBC, Vodafone, Rolls Royce and Confederation of Indian Industry (CII) is also scheduled in New Delhi on Friday.
A bilateral with Tata Group chair Natarajan Chandrasekaran will be held, following the company’s announcement last month of a new GBP 4-billion electric vehicles’ battery gigafactory in the UK. Richard McCallum, UK-India Business Council (UKIBC) CEO, said that total trade growing 34 per cent in current prices in the year to March 2023 makes India the 2nd largest source of FDI (foreign direct investment) projects in the UK, leaving no doubt that the economic relationship between our two countries is flourishing.
He said that UK companies recognize that India is one of the fastest growing economies and one that is alive with opportunity in a range of sectors, including R&D, talent and manufacturing. UK technology and capital are also embraced by Indian firms to grow internationally. He also expressed his encouragement to see the launch of this campaign, which showcases the countries’ symbiotic relationship and the many cultural and trading opportunities both have to offer.
Targeted UK trade missions to India over the coming year under the new DBT marketing campaign include higher education, agri-tech and e-sports.
According to the DBT, the campaign will celebrate business, trade, cultural and sporting links between the UK and India, taking advantage of major moments such as India’s hosting of the Cricket World Cup from October and the England-India test series starting in January next year. The UK is promoted via billboards in airports and across social media channels in India backed by a series of targeted trade missions, promotional events and marketing activations in both countries. India is shown as the UK’s second largest source of investment projects, with 118 new projects in the last financial year creating 8,384 new jobs, more than 900 Indian businesses operating in the UK and more than 600 UK businesses finding success in India by latest DBT data.
The aim of the new campaign is to stimulate interest and demand for UK goods and services and attract new Indian inward investment.
Innovations and expertise will be shared by delegates from UK and Indian companies this month at the Agritech India exhibition in Bengaluru, followed by the Global Fintech Festival in Mumbai in September, International Railway Equipment Exhibition in Delhi in October, and Createch Mission to Hyderabad, Mumbai and Bengaluru in November.
The first UK-India Roadshow will take place up and down the UK in January 2024 and Indian companies will visit it.

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