With expertise in logistics and worldwide transport, cargo-partner is pleased to introduce a new groupage hub and enhanced road transport routes from the Netherlands, ideally placed to support customers with the import and export of goods across Benelux and Europe. cargo-partner has launched a new Transhipment Point (TSP) in Roermond in partnership with the company’s … Read more
Recent events in co-operation between Kazakhstan and the United Kingdom have opened new horizons for both countries to maximize the benefits in trade and investment. The test of time and geopolitical developments have proved the stability of this partnership, enabling the countries to further enhance business ties and work together to address emerging economic and … Read more
rmenia’s foreign trade in January-March 2023 amounted to over $4.2 billion, which is 2 times higher than in the first quarter of 2022, according to the numbers, released today by the National Statistical Committee (NSC). It said in March 2023 alone the foreign trade was up 23.7% compared to the previous month of February and … Read more
Hungary has banned imports from Ukraine of a number of agricultural products, including honey and some meat products, in addition to grain, until June 30. Member of the National Assembly of Hungary Gergely Gulyás stated this on Thursday, Ukrinform reports citing Reuters. According to him, Hungary’s ban on imports of major grain and agricultural products … Read more
South Korea and Serbia have reached a tentative deal to sign a bilateral investment treaty aimed at promoting mutual investments between the two countries, according to Seoul’s foreign ministry Thursday. The treaty is expected to provide a legal framework for the protection of South Korean investments in Serbia from non-commercial risks, and promote mutual investments … Read more
Astana hosted a Kazakh-Czech business forum on April 24, which saw the signing of bilateral agreements worth 230 million euros ($254 million). The one-day forum sought to expand economic ties between the two countries and build a network between Kazakh and Czech entrepreneurs. More than 150 delegates attended the event, including heads of government bodies, … Read more
On April 20, the National Statistics Service of Georgia published preliminary data indicating that in January-March 2023, Georgia’s foreign trade increased by 22.1% compared to the corresponding period of the previous year, totaling $4.8 billion in value. During the same period, exports from Georgia increased by 24.7% to $1.5 billion, while imports rose by 21% … Read more
The trade turnover between Azerbaijan and Kyrgyzstan totaled $6.03 million or 0.37 percent of Azerbaijan’s total turnover with the CIS [Commonwealth of Independent States] countries from January through March 2023, Azernews reports citing Trende. According to the committee, trade turnover between Azerbaijan and Kyrgyzstan increased by 3.65 times from January through March 2023 compared to … Read more
As the Armenian government’s report on the progress and results of the implementation of its plan of actions in 2022 announces, the trade turnover with the U.S. in 2022 more than doubled compared to the previous year to about $465 million.
An increase by 43.8% was shown by Armenia’s trade with EU member states, and the record high of almost 2 billion euros was achieved. Armenia’s exports to the EU showed an increase by 17.8% compared to 2021.
An increase of about 42% was achieved by Armenia’s trade with Iran. It grew up to about $711 million compared to about $503.5 million in 2021.
A growth to $879 million was shown by Armenia’s trade with Georgia (up from $422 million in 2021).
Armenia’s trade turnover with China increased by 39.4% from about $1.8 billion to $1.3 billion compared in the previous year.
The official statistics show that Armenia’s foreign trade in 2022 increased by 68.8% compared to 2021 and reached $14.1bln. The rise of Armenia’s exports was 77.7% while the increase of imports was 63.5%.
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A string of amendments to the law, which designates imported goods, which are not subject to excise duties and are exempted from value added tax, is approved today in the second and final reading by the Armenian parliament by a vote of 81 and 6 abstentions.
The amendments will make import of those raw materials, which are not produced in Armenia, exempted from value added tax (VAT) paid on the border.
According to Deputy Minister of Economy Armen Arzumanyan, currently a large number of enterprises import raw materials, which are not available in Armenia.
He said in parliament that given that the economic policy of the government is aimed at supporting local producers and increasing the efficiency of cash flow management by business entities, they plan to gradually shift taxation on imported raw materials and equipment from the border to the domestic economy.
As Arzumanyan said, gradual exemption of certain types of goods from VAT is called for by the amendments. He added that the country imported about $11 million worth of such goods in 2021, but they expect imports to increase after the approval of the amendments.
According to Minister of Economy Vahan Kerobyan, domestic chicken eggs for incubation; embryos, seminal fluid, seeds; products for the testing industry, including the processing of textile materials, leather, skins, etc.; also products necessary for the production of poultry and meat are included in the list of the goods to be exempted from VAT.
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