German exports in March were down 5.2 per cent on the previous month, while imports even declined by 6.4 per cent, according to provisional figures published by the Federal Statistical Office (Destatis). “The declining figures are related to the strong start to the year,” Dirk Jandura, president of the Federation of German Wholesale, Foreign Trade … Read more
Both the Australian and New Zealand Governments have announced free trade agreements with the UK that will eliminate import tariffs for Australian and New Zealand made wine. Australian Grape & Wine CEO Lee McLean welcomed the Prime Minister’s announcement of 31 May as the date of entry into force of the Australia-United Kingdom Free Trade … Read more
Armenia’s foreign trade doubled in January-March 2023 compared to the same period of 2022 to more than $4.2 billion, the National Statistical Committee (NSC) said. In March 2023 alone, the country’s foreign trade amounted to about $1.7 billion, which was 2.5 times more than in March 2022. It was up 23.7% compared to February 2023. … Read more
At a plenary session in Strasbourg, the European Parliament voted by a majority in the first reading to extend duty-free trade with Ukraine for another year, starting June 6, 2023. According to an Ukrinform correspondent, 537 deputies voted in favor, 42 voted against, and 38 abstained. The European Commission has proposed to extend trade liberalization … Read more
Kazakhstan and China’s Xinjiang Uygur Autonomous Region (XUAR) agreed to increase trade turnover of agricultural products to $1 billion a year, as Kazakh Minister of Agriculture Yerbol Karashukeyev met with Secretary of the XUAR Communist Party Ma Xingrui on May 9, reported the ministry’s press service on May 10. According to Karashukeyev, Kazakhstan is willing … Read more
The global honey market is expected to grow from $8.53 billion in 2022 to $12.69 billion by 2029. The demand for honey is being driven by consumers’ growing preference for natural and organic sweeteners. In 2022, compared to 2021, the export value of Georgian honey increased by 79% and the export volume by 49%, which … Read more
Chairman of Azerbaijan’s State Customs Committee, Customs Service Lieutenant General Shahin Baghirov has met with a delegation led by Parliamentary Vice-Minister for Foreign Affairs of Japan Yoshikawa Yuumi. Touching upon the economic and trade relations between the two countries, the sides stressed the importance of further strengthening of cooperation in the field of customs. The … Read more
NH Logistics took part in Retail Supply Chain & Logistics Expo, which was held on May 3-4 in Las Vegas. Designed to showcase emerging technologies and strategies in retail, the Retail Supply-Chain Logistics Expo in Las Vegas set its agenda to cover logistics networks, ecommerce, selling/supplying industries and much more. Co-located events, speaking engagements delivered … Read more
Over 250 leaders of large companies, holdings and industrial enterprises, banks, ministries, agencies and industry associations from Uzbekistan and Germany attended a joint business forum held in Berlin on May 2 this year on the eve of the visit of President of the Republic of Uzbekistan Sh.M.Mirziyoyev to the Federal Republic of Germany.
The active development of bilateral relations between Uzbekistan and Germany in recent years achieved dues to the trust and political will of the two countries was stressed by Jamshid Khodjaev, Deputy Prime Minister of Uzbekistan, in his welcoming speech.
The double growth in mutual trade turnover over the past five years was noted by the sides. Another 50% growth of the indicators of bilateral trade was recorded at the end of 2022. It exceeded one billion euros for the first time.
They also observe consistent dynamics in investment cooperation and industrial partnership. A nearly threefold increase of the number of enterprises with German equity investment set up in Uzbekistan has been noted for a few years and it exceeded 200 units. An 11-fold growth of the total volume of German investments since 2017 made it exceed 4 billion euros. Business is already being done very successfully and new productions are being actively launched in Uzbekistan by many German companies, such as MAN, CLAAS, Knauf, GP Papenburg, Viessmann, Deutsche Kabel, LEMKEN.
Conditions created in Uzbekistan for comfortable work of foreign investors, as well as the strengths of the Uzbek economy drew the attention of German business circles. They particularly noted high human resource potential, strategic geographical position, free trade regimes with CIS countries, the GSP+ status, active efforts to join the World Trade Organization, rich resources of raw materials and direct support of the leadership and government in joint projects and initiatives.
Energy, chemical, food and textile industries, metallurgy, automotive industry, agriculture, production of building materials, electrical engineering, as well as pharmaceuticals and health care are the most promising areas for building long-term cooperation.
High appreciation of the results of economic reforms pursued in Uzbekistan, which have yielded, among other things, comfortable conditions for foreign investors working in the country, was given by representatives of German business circles. A firm commitment to step up cooperation and work out new joint projects was expressed by the sides.
B2B meetings and presentations of concrete cases and projects in various sectors of Uzbekistan’s economy continued the forum.
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On May 2 this year on the eve of the visit of President of the Republic of Uzbekistan Sh.M.Mirziyoyev to the Federal Republic of Germany, a joint business forum was held in Berlin, which was attended by over 250 leaders of large companies, holdings and industrial enterprises, banks, ministries, agencies and industry associations of the … Read more