But UK ministers still refusing to acknowledge any economic harm from quitting the EU B rexit has been an “economic disaster” for trade and investment ties between the United Kingdom and Germany, leading to a fall in German direct investment and seeing the UK decline in importance as a trading partner, German economists warned on … Read more
Eurasian Development Bank (EDB) analysts expect Armenia to retain leadership in economic growth among the Eurasian Economic Union’s (EEU) member countries in 2023, the bank said in its Telegram channel. According to the macroeconomic forecast made for the 6 EEU member countries for 2023-2025, the Armenian economy is expected to grow by 7.5% in 2023 … Read more
Over the 45th week of the operation of the “grain corridor”, from June 5 to 11, 2023, 651,000 tonnes of agricultural products were exported through the seaports of Odesa region, up 65% compared to the previous week. “Thirteen ships were loaded at Ukrainian seaports last week, showing an increase of six units compared to the … Read more
Serbian companies signed trade agreements with fifteen Chinese state-owned enterprises worth a total of some $500 million (460 million euro) on Thursday, the Serbian government said. Belgrade and Beijing will sign a free trade agreement by the end of 2023, giving Serbian companies a chance to take their share of the Chinese market, infrastructure minister … Read more
Permanent Representative of the Republic of Kazakhstan to the World Trade Organization and International Economic Organizations Zhanar Aitzhan moderated the WTO dedicated session on transit for landlocked developing countries “Overcoming problems in trade and transit operations,” press service of the Kazakh MFA reports. The purpose of this workshop is an in-depth study of best practices, … Read more
In January-May 2023, Georgia’s foreign trade turnover amounted to $8.3 billion that is 18.9% more than in the same period of last year. Exports amounted to $2.5 billion that is 18.6% more than in the same period of 2022. According to the National Statistics Office, the first place among the top export goods is occupied … Read more
Chairman of the Azerbaijan State Customs Committee Shahin Bagirov has met with Director General of the Norwegian Customs, Oystein Bormer on the sidelines of the 141st/142nd sessions of the Customs Cooperation Council of the World Customs Organization. The meeting focused on the prospects for cooperation between the customs authorities of the two countries, further expansion … Read more
As Armenian Prime Minister Nikol Pashinyan said on Thursday at an enlarged meeting of the Eurasian Intergovernmental Council, a free trade agreement between the Eurasian Economic Union (EEU) and Iran will enter into force and give a strong impulse for development of strategic relations.
According to him, a package of arrangements providing the EEU member states’ exports with preferential access to Iran will be formed due to the work carried out to conclude a full-fledged agreement. He called such conditions of access to the Iranian market exclusive for Armenian exporters.
According to the opinion of Pashinyan, this year this agreement will be signed with the support of the EEU member states. The same attitude is demonstrated by the Iranian side in its turn.
An agreement to establish a free trade zone was signed by the Islamic Republic of Iran and the Eurasian Economic Union (EEU) following the meeting of the delegations of the two sides on January 19h, 2022.
According to Alireza Peyman-Pak, Iran’s Deputy Minister of Industry, Mine and Trade and Head of the Trade Promotion Organisation (TPO) of the Islamic Republic, zero tariffs on 90% of goods were approved by Iran and EEU as part of the Free Trade Zone agreement. The entering into force of the Free Trade Zone agreement is scheduled for the end of September 2023.
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The Deputy Chairman of the Eurasian Development Bank (EDB) Denis Ilyin reports that an increase by 54% has been attained by the volume of cargo transported via the North-South International Transport Corridor (ITC) from January to May, 2023.
According to Ilyin, Russia-Georgia-Armenia-Iran direction is a possible interconnection between North-South and East-West transport corridors. He said that at a session on transport logistics in Eurasia, held within the frames of Eurasian Congress 2023 in Russian Sochi.
More than $38 billion are needed for implementation of 102 projects of the development of the North-South transport corridor. The state sources finance 67 of them.
Purchase of cars for the South Caucasus Railway in Armenia is a project of the North-South ITC, while construction of the Meghri-Kajaran road section is a project of the Eurasian Fund for Stabilization and Development (EFSD).
The Republic of Armenia and the Eurasian Development Bank (EDB) signed an agreement on the provision of an investment loan from the Anti-Crisis Fund of the Eurasian Economic Community to finance the construction of the north-south road corridor (Phase 4) on April 14, 2015. The investment loan amounted to $150 million is provided for a period of 20 years.
The Eurasian landmass along East–West and North–South axes are being crossed by a system of international transport corridors called the Eurasian Transport Network. The Eurasian transport corridors enable the network to become a tangible foundation for a Greater Eurasia because they extend as far as China, India and the European Union. Digitalizing transport can provide seamless transport connectivity and unlock the full potential of the Eurasian continent’s economy.
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Exports to CIS countries (excluding Russia) up 1.5 billion euros, exports to Russia down 4.9 billion euros at the same time Motor vehicle exports to CIS countries increased five-fold, exports of machinery and chemical products also rose considerably WIESBADEN – A strong increase of German exports to the CIS countries (Commonwealth of Independent States, here: … Read more