NEWS

Economy Minister: US support important for Georgia’s EU integration, including in reforming agriculture

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He also pointed out that the USAID programme contributed to the identification of challenges in various agribusinesses and their overcoming throughout the country, adding the enterprises had benefited from the increase in exports, which amounted to $148 million. Photo via Economy Ministry Georgian Economy Minister Levan Davitashvili on Wednesday highlighted the close cooperation with the … Read more

Serbia invited Tokayev on official visit

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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

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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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20.3% products were imported from Turkey in January

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According to GEOSTAT, the share of the ten largest import partner countries in the total import of Georgia reached 70% in January. Georgia imported 20.3% of products from Turkey in the mentioned period.
Turkey (203.1 million USD, 20.3%), Russia (148.4 million USD, 14.8%), China (76.4 million USD, 7.6%), the USA (72.491 million USD, 7.2%), Germany (53.214 million USD, 5.3%), Azerbaijan (2.069 million USD, 5.2%), Italy (28.805 million USD, 2.9%), United Arab Emirates (26.375 million USD (2.6%), Iran (21.317 million USD, 2.1%), Poland (19.259 million USD, 1.9%) are the ten largest import partner countries of Georgia in January 2024.
The share of the rest of the countries in imports is 30% (301.276 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 agrees on mandate to renew suspension of import duties, quotas on Ukrainian, Moldovan exports

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The ambassadors of the EU member states agreed on February 21 on the Council’s negotiating mandate on two legislative proposals which aim to renew the suspension of import duties and quotas on Ukrainian and Moldovan exports to the EU for another year. That’s according to a statement posted on the website of the European Council, … Read more

In January, 20.3% of imported products came from Turkey

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GEOSTAT reports that, in January, the share of the ten largest import partner countries in the total import of Georgia amounted to 70%. In the mentioned period, the most products were imported to Georgia from Turkey (20.3%). The list of the ten largest import partner countries of Georgia in January 2024: Turkey – 203.1 million … Read more

Trade and economic ties were discussed by Georgian Economy Minister and UAE officials

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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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Poland, Spain and China became Ukraine’s largest importers with trade turnover reaching USD 8.5 billion in January

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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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Trade turnover reached USD 8.5 billion in January, with Ukraine’s largest exports going to Poland, Spain and China Trade turnover reached USD 8.5 billion in January, with Ukraine’s largest exports going to Poland, Spain and China

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Ukraine’s trade turnover in January 2024 was USD 8.5 billion. This is 7% more than in the same period in 2023. According to Ukrinform, this was reported by the State Customs Service of Ukraine. “In January 2024, Ukraine imported goods worth USD 5.1 billion and exported USD 3.4 billion. At the same time, taxed imports … Read more