NEWS

Georgia’s freight turnover increased after modernization.

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According to the report of Georgian-based non-governmental organization Society and Banks, revenues from transport services in Georgia would increase by about $150 million in April compared to 2021 and exceed $960 million in the ongoing year.
As Georgian Railway Director General Davit Peradze announced on Business Morning TV program on Monday, about 21 more million tons of cargo will be carried annually by Georgian Railway after the completion of the modernization of the network in the country.
According to Peradze, 27 million tons of freight is carried by the company per year, and an annual load reaches 12-13 million tons (the figure would attain 48 million after the modernization).
The local business online media outlet bm.ge cited Peradze: “The growth trend of the Georgian Railway has not stopped for the last four years, with a “record rate” of 10 percent increase observed in freight in 2021”.
The challenges the company is facing, including the lack of locomotives, an upgrade of the existing fleet, and further improvements to railway tracks, were also spoken about.
A profit of ₾23.5 million had been generated by the Georgian Railway in the first quarter of this year, according to the Director General.
The reports of the company announce a profit of ₾52,711 ($18,399/€17,179) in 2021 following four years of operating losses, with the consolidated revenue of the company reaching ₾547,868 ($191,237/€178,458) last year, compared to ₾489,370 ($170,818/€159,369) in 2020, in addition to about ₾164,000 ($57,245/€53,381) of losses.

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Uzbekistan, Mongolia to discuss strengthening trade and economic ties

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A representative delegation of Mongolia headed by Deputy Foreign Minister Munkhjin Batsumber is arriving in Tashkent today. According to the Foreign Ministry, the delegation also includes a number of heads of Mongolian business structures. On June 2-4, meetings will be held at the ministries of foreign affairs, investments and foreign trade, and agriculture. It is … Read more

Ukraine exports over 1M tonnes of grain in May

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Ukraine has exported more than 46.9 million tonnes of grain and leguminous crops as of May 30, including 1.06 million tonnes in May. That’s according to the press service of the Ministry of Agrarian Policy of Ukraine, referring to figures from the State Customs Service, Ukrinform reports. Since the beginning of the 2021/2022 marketing year, … Read more

Serbia discussing gas supplies from Azerbaijan through IGB interconnector – deputy PM

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Serbia is discussing gas supplies from Azerbaijan through Interconnector Greece-Bulgaria (IGB Project), Deputy Prime Minister of the Republic of Serbia and the Minister of Mining and Energy Zorana Mihajlovic said at the 27th Energy Forum in Baku, Trend reports. “We discussed with the Minister of Energy Parviz Shahbazov the possibility of supplying Azerbaijani gas through … Read more

Moldovan authorities establish plan on facilitating export of perishable products

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The National Food Safety Agency (ANSA) and the Customs Service today established more measures for facilitating and promoting the export of perishable agricultural products made in Moldova. The action plan is stipulated in the common order on the procedure of charging customs duties for perishable farming goods from Moldova, signed by the leaderships of the … Read more

Bilateral trade btw Kazakhstan and Poland reaches $760mln

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Kassym-Jomart Tokayev received OSCE Chairman-in-Office, Minister of Foreign Affairs of Poland Zbigniew Rau, who is in Kazakhstan as part of a regional tour, Kazinform cites the Akorda press service. Welcoming Zbigniew Rau, Kassym-Jomart Tokayev noted that his visit is important for strengthening Kazakhstan’s cooperation with Poland and the OSCE. The Head of State spoke about … Read more

Georgian Railway Director General talks increase in freight turnover after modernisation

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Georgian-based non-governmental organisation Society and Banks in its report in April said revenues from transport services in Georgia would increase by about $150 million compared to 2021 and exceed $960 million in the ongoing year. Photo: BTK Railway/Facebook Georgian Railway will be able to carry about 21 more million tonnes of cargo annually following the … Read more

First block of freight from China’s Tuanjiecun railway station to Finland arrives in Port of Baku

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The first block of freight from China’s Tuanjiecun railway station to Finland has arrived in the Port of Baku. The first part of a block train consisting of 54 containers transported by the ferries “Aghdam” and “Nakhchivan” from the Port of Kuryk in Kazakhstan within the Trans-Caspian International Transport Route was delivered to the Port … Read more

Armenian finance ministry: Export and import boost in 2022

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Consumption growth in Armenia amounted to 3.7%. At the same time, exports increased by 16.5%, and imports – by 10.9%, said Minister of Finance of Armenia Tigran Khachatryan in the parliament during a preliminary discussion of the implementation of the state budget for 2021. Economic growth forecasts were revised several times during the reporting year. … Read more

3.5 times more IT Park residents in Q1

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3.5 times more new residents appeared in the technology park compared to the same period in 2021.
IT Park counted 1,588 companies in April. According to the technopark press service, 65 new residents have appeared since the beginning of the year.
80 companies became residents in January-March – three times more compared to the same period of last year. 23 out of these companies were established at the beginning of the year, 14 firms lost their status. The technopark rejected 43 companies.
The majority of the companies of the IT Park residents (479) work in the capital, but IT companies in the regions become more numerous– 109 (growth up by 18.5%).
Services worth 814 billion soums, were provided by IT Park residents during the reported period (increased by 186%, or almost three times). Software development, data processing, business process automation and training were the main spheres.
The export of services engages 121 technopark resident companies.
$17.3 million were earned by exporters in the first quarter (increase by 3.5 times compared to 2021). By the end of the year, this amount should attain $100 million.
The USA holds the most significant part in the geographical structure of exports, which increased to 85.2%. The UK, the UAE, South Korea and the CIS countries share the rest.
The task to increase digital exports to $1 billion was set by the head of the Ministry of Information Technologies and Communications Sherzod Shermatov at the end of 2021. Simplified visa issuance for IT specialists and technology investors was one of the measures he recommended.
The TashRush program was created to implement the minister’s instruction practically and to attract foreign IT workers. Anther measure was the introduction of special visas and simplified employment for them.
The move of IT companies, working with foreign clients, from Russia and Belarus to the country began. About 1,000 workers from Russia and Belarus were moved here by EPAM.

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