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Trade and economic ties between Georgia and the UAE were discussed by Georgian Economy Minister Levan Davitashvili and United Arab Emirates officials on Tuesday on the sidelines of the ongoing World Governments Summit in Dubai.
According to the Economy Ministry, Suhail Mohamed Al Mazrouei, the UAE Minister of Energy and Infrastructure, and Thani bin Ahmed Al Zeyoudi, the country’s Minister of State for Foreign Trade, were featured at the meeting.
“Active development” of Georgia’s economic relations with the UAE and the increase of the trade turnover between the two countries by 39 percent according to last year’s data were noted by Davitashvili. He also mentioned that 18.9 percent more tourists from the Emirates visited Georgia, and a 23.1 percent increase was shown by the number of passengers transported by direct regular flights in 2023 over the previous year.
According to the Ministry, the comprehensive economic partnership agreement between the two states, signed in October, with Georgia benefiting from the free trade deal with the Emirates and access to an additional market of 10 million consumers with “high purchasing power”, was highlighted at the meeting with Al Zeyoudi.
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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The volume of USD 8.5 billion was attained by Ukraine’s trade turnover in January 2024. It showed a 7% increase compared to the same period in 2023.
According to the statement, goods worth USD 5.1 billion were imported by Ukraine in January 2024, and goods worth USD 3.4 billion were exported by the country. 90% of the total volume of imported goods was taxed imports (up to USD 4.5 billion).
China (USD 1.1 billion), Poland (USD 568 million) and Germany (USD 388 million) were the main exporters to Ukraine.
Poland (USD 334 million), Spain (USD 322 million) and China (USD 305 million) were the main importers from Ukraine.
Machinery, equipment and transport (USD 1.9 billion), chemical products (USD 868 million) and food products (USD 659 million) were the main Ukraine’s exported goods in January 2024.
Food products (USD 2.2bn), metals and metal products (USD 362m) and mineral products (USD 312m) were the top three most exported goods from Ukraine.
The budget paid during the customs clearance of exports of goods subject to export duties amounted to UAH 23.7 million.
According to the report, Ukraine’s trade turnover reached USD 99.4 billion in January-December 2023.
NH Logistics UA 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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According to Levan Tatarashvili, CEO at IBEX Logistics, the transport companies has been positively affected by the increased demand for the Middle Corridor transit route.
Tatarashvili says that the 2023 data promises 500% increase of demand for transportation, and even more in 2024. Improvement and modernization of the infrastructure are the main tasks.
Levan Tatarashvili notes that dynamics are being observed and the role of the Middle Corridor has increased. Organization of the infrastructure is what should bу done first. Particularly, they plan to modernize the railway in a bid to significantly simplify the transportation amid the current delays. In this case, they can execute 10 requests out of every 100. Cargos are not able to be segmented. An unprecedentedly high demand for transportation is currently seen by Georgia. Volumes, which are individual for each company, can’t be specified. In some cases, demand increased by 500%.
According to the company CEO, the planned major infrastructure projects, including the Anaklia port, give high expectations for radical change of the current reality.
Levan Tatarashvili points out that as long as the Middle Corridor plays a big role, Georgia is involved in this process as well, despite some obstacles, due to the country’s geographic location. The Anaklia port project will improve the situation and cargo flows will be increased by at least 150%.
They established the Middle Corridor in February 2014 with the participation of Azerbaijan, Kazakhstan and Georgia. Ukraine, Romania and Poland joined the project later. The route, currently starting from the Chinese-Kazakh border, passes through Kazakhstan, the Caspian Sea, Azerbaijan and Georgia towards Europe.
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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So-called CBAM (Carbon Border Adjustment Mechanism) goods were exported to the European Union by about 2,400 companies from Serbia last year (by 1,400 of them in the last quarter of 2023). According to the Serbian Chamber of Commerce, not only producers, but also traders or users of these goods were included in these figures.
Primarily they created CBAM as a mechanism to exchange data on embedded emissions between companies, exporters outside the EU and importers based in the EU, and at the moment, there is no publicly available centralized national register of companies that have to abide by the CBAM rules, so the Serbian Chamber of Commerce does not have precise data on how many companies from Serbia sent their CBAM reports to their EU partners, covering the first reporting period (fourth quarter of 2023).
The largest number of companies whose products are subject to the CBAM rules are in the aluminium, iron and steel industries (according to preliminary estimates, more than 95 percent) is reported by the Serbian Chamber of Commerce data.
A lot of challenges will be encountered by small and medium-sized companies from the metal-processing sector due to the lack of resources and the level of preparedness, whether by those which directly export the final product to the EU or by those the product of which is one of the products including in the supply chain of the final product exported by another company.
The EU’s tool to put a fair price on the carbon emitted during the production of carbon-intensive goods that are entering the EU and to encourage cleaner industrial production in non-EU countries is the Carbon Border Adjustment Mechanism. Only imports of cement, iron and steel, aluminium, fertilisers, electricity and hydrogen will be concerned by it during its transitional phase.
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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Georgia’s foreign trade turnover reached 21 billion 529 million dollars in 2023, with both import and export increased during this period.
The data of 2023 reports the value of goods sold in Kyrgyzstan increased by 642% (695.6 million dollars). Due to that, the fourth place in the ranking of export destinations was taken by the Central Asian country with a share of 11.4%.
Statistics show that 88.8% of products exported to Kyrgyzstan are automobiles (16,831 cars worth 617.9 million dollars were sold last year).
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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As the National Statistics Office said on Wednesday, the Georgian economy grew 8.3 percent year-on-year in December and by seven percent in 2023.
According to the Office, estimated real growth in construction, manufacturing, financial and insurance sectors, information and communication mainly drew last month’s growth, although energy and real estate sectors declined.
As Deputy Economy Minister Vakhtang Tsintsadze said, the domestic economy’s stability and growth at a “high rate” was maintained and continued despite the “geopolitical tensions” and “external shocks” created in the wider region.
According to him, one of the highest economic growth rates for 2023, both in the European region and among [EU membership] candidate countries, has been shown by Georgia, and this trend is expected to continue in the coming years.
“Record” results of the previous year were also pointed to by The Deputy Minister. He added that external trade turnover had exceeded $6.1 billion, while revenues from international tourism had crossed the $4.1 billion mark.
A growth trend also characterized investment activity in the country.
Tsintsadze said that all of the above-mentioned gives positive optimism that economic growth will continue at this rate and that 2024 will be impressive in economic growth, and higher economic growth than all forecasts [by various international financial organizations] during 2023 will be achieved.
According to the January edition of the World Bank’s Global Economic Prospects report, the Georgian economy would grow 4.8 percent in 2024.
As The National Bank of Georgia has said, economic activity is expected this year to “gradually normalize” in line with the growth rate of the potential gross domestic product, estimated at five percent.
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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The total amount of the exports of Georgia (excluding non-declared exports) reached USD 6 090.6 million in 2023 (9.1 percent higher year-on-year). A 24.4 percent decline was shown by share of the domestic exports in total exports (45.8 percent, USD 2 791.5 million).
The top ten trading partners by domestic exports in the total domestic exports of Georgia had the share of 73.1 percent in 2023. Russia (USD 541.7 million), Türkiye (USD 343.8 million) and China (USD 270.0 million) were the top partners.
The first place in the list of top export items, equaling USD 474.2 million, or 17.0 percent of total exports, was claimed by copper ores and concentrates in 2023. The share of the exports of wine of fresh grapes totaled USD 257.7 million and amounted to 9.2 percent of the total exports. The third place, standing at USD 180.7 million and constituting 6.5 percent of the total exports, was occupied by the exports of ferro-alloys.
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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Open Balkan member states – Serbia, North Macedonia and Albania – signed two protocols that will enable establishing a free labour market in Skopje yesterday.
The State Secretary at the Ministry of Finance Gojko Stanivuković signed a protocol on the implementation of an agreement on conditions for free access to the Western Balkans labour market and a protocol on connecting an electronic identification scheme for citizens of the region on behalf of Serbia.
Full liberalisation of the labour market in the Open Balkan states starting from March 1 was announced by Serbian President Aleksandar Vučić earlier in the day.
According to him, a common labour market would help to create a better business environment for both local and foreign companies and to overcome the problem of workforce shortages.
As Vučić told the press in Skopje, the Growth Plan for the Western Balkans had been discussed with American and European representatives, as well as a common European market and Serbia’s participation in it. He said that green lines for Serbian trucks, [allowing them] to cross EU state borders are most important, because they mean strengthening of the country’s commerce and industrial production.
The prime ministers of Albania, Montenegro and Kosovo – Edi Rama, Milojko Spajić and Albin Kurti respectively – as well as by Bosnian and Herzegovinian Finance Minister Srdjan Amidžić, NEAR Director-General Gert Jan Koopman and U.S. Assistant Secretary of State James O’Brien attended the conference aside from Vučić.
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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The State Agency for the Restoration and Development of Infrastructure of Ukraine reports that work on launching of two new cargo checkpoints on the border between Ukraine and Romania is being carried out.
The issue of building checkpoints on the common border was discussed by representatives of the Restoration Agency and the State Customs Service of Ukraine with the Ambassador Extraordinary and Plenipotentiary of Romania to Ukraine Alexandru Victor Micula. The opening of new checkpoints was one of the topics of discussion.
The statement said that Ukraine and Romania are working on new projects for the Bila Krynytsia-Climăuți and Bila Tserkva-Sighetu Marmației cargo checkpoints.
Two checkpoints on the border with Romania – Solotvyno-Sighetu Marmației in Zakarpattia region and Porubne-Siret in Chernivtsi region are currently operated by the State Agency.
A strategically important role of checkpoints for the development and support of export and import potential during the war was noted in the institution. So, a priority for the Agency in 2024 is increasing capacity, reconstruction of the checkpoints themselves and the infrastructure around them.
According to the reports, 20 of Ukraine’s 42 road, rail, and port checkpoints on the border with Moldova, Poland, Slovakia, and Romania have already been inspected by the team of the USAID Economic Support to Ukraine Project and rapid upgrades have begun at four priority checkpoints.
NH Logistics UA 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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The Ministry of Economy preliminary estimates that the increase of the volume of gross domestic product attained about 5% last year.
First Deputy Prime Minister – Minister of Economy Yulia Svyrydenko reported this data during the discussion “Economy in 2023: Overview of Key Figures” organized by the Center for Economic Strategy in cooperation with the German Economic Team.
The rapid adaptation of Ukrainian business to the current extremely difficult conditions was emphasized by Svyrydenko. Operations of more than 90% of enterprises that had shut down at the beginning of the war have already been resumed.
She says that the field of public administration and defense showed the largest growth. Military salaries and funding for defense programs are primarily concerned by this.
Svyrydenko said that construction also developed at a fairly high pace. Damaged critical infrastructure was actively restored due to investment demand, which was formed due to significant budget funding. Favorable weather conditions had a positive impact on agriculture: 80 million tons of grains and oilseeds were harvested by farmers. The recovery in consumer demand and supply of goods drew the growth in domestic trade, and the growth in demand for investment products drew the manufacturing industry.
Simultaneously, the rhythmic flow of international financial assistance played a key role in ensuring the stability of the Ukrainian economy. It reached $75 billion over the two years of the full-scale war.
The Deputy Prime Minister said that 67% of the funds came from Ukraine’s main partners, the EU and the U.S. Due to this, the country’s priority needs of the budget were covered, social spending was ensured and financial stability was maintained, even the preconditions for macroeconomic stability were created this year. It resulted in the domestic GDP increase by about 5% in 2023, according to preliminary estimates, while in 2022 the economic decline reached 28.8%. This is the so-called recovery growth.
According to the reports, the Ukrainian economy’s growth by 3.2% this year and in 2025 – by 6.5% has been predicted by the World Bank. The WB estimated last year’s growth more pessimistically than the Ministry of Economy’s – at 4.8%.
NH Logistics UA 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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