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Tag Archives: trade

Major Deal Made on Nikora Trade Bonds

A major deal has been made on Nikora Trade bonds. About 200 bonds were sold through the so-called fixing instrument.  Price for each bond marked 1040.55 USD. Total value of the deal constituted 208 110 USD. This is the largest deal made ever on Nikora Trade bonds. Bonds coded as …

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Georgian Honey with No Perspective on European Market

Georgian Honey

Georgian Honey has been admitted to EU market after EU completed all formal procedures and included Georgia in the list of third countries, from where honey imports are admitted to EU space.  Ministry of Agriculture of Georgia has carried out important measures for developing beekeeping field and stimulating exports of …

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Iran-Azerbaijan-Georgia Corridor to Launch in 1 Month

Iran-Azerbaijan-Georgia

Iran, Azerbaijan and Georgia are carrying out a plan to make operational a long-overdue corridor that will carry shipments from the Black Sea – between Eastern/Southeastern Europe and Western Asia – to the Persian Gulf in the southeastern Middle East. The announcement was made by Deputy Head of the Islamic …

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Armenia-Georgia Trade Relations: Getting close or Distant?

PMC Research together with the Konrad-Adenauer-Foundation (KAS), hosted a presentation and public discussion of the research findings “Armenia-Georgia Trade Relations: Getting close or distant?”. Armenia’s decision to join the Eurasian Economic Union (EEU) exempted traders from union member countries from paying value added tax (VAT) and excise tax, thus putting …

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In January-October Exports Slip 16% with EU, Drops 19% with CIS

In January-October 2016 Georgia’s foreign trade turnover (excluding non-declared trade) made up 9956 million USD, up 22% year on year; According to Geostat, National Statistics Service of Georgia, exports marked 1701 million USD, down 7% year on year, and imports constituted 8256 million USD, up 31% year on year. It …

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Japanese Businessmen Interested in Poti Industrial Zone

JETRO

Last week, the delegation of Japan External Trade Organization (JETRO) was visiting Georgia with the invitation from the Georgian National Investment Agency. The Japanese delegation members met with Georgian government officials and private sector representatives. Additionally, JETRO representatives were received by Georgian vice Prime Minister and Minister of Economy and …

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Saudis Can Travel to Georgia Visa-Free

Giorgi Janjgava, the Georgian Ambassador, declared that Saudis can travel to Georgia without visa requirements. At the Jeddah Chamber of Commerce and Industry (JCCI), Giorgi Janjgava met with the JCCI vice chairman, JCCI board member and several executive leaders to discuss the new arrangement. In addition to visa-liberalization granted to Saudis, “Saudis can stay …

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Imports of Hepatitis C Drug Increased External Trade

Imports of Hepatitis C drugs have contributed in increasing rate of external trade in Georgia, however the rate is declined. In January-September 2016 external merchandise trade (excluding non-declared trade) in Georgia amounted to USD 9104 million, 24 percent higher year-on-year. The exports equaled USD 1512 million (8 percent lower), while …

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Reuters: China, Georgia Sign Preliminary Trade Pact

China and Georgia on Wednesday signed a preliminary free trade agreement that is expected to take effect from the end of 2017. The deal is expected to see Chinese firms building ports and railways in Georgia, and will boost Georgian wine exports to the world’s No.2 economy, according to a …

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This is how China’s New Silk Road Initiative could Impact European Trade

Much has been written about the Belt and Road initiative since Xi Jinping made it Beijing’s flagship initiative in September 2013. There are many interpretations of the initiative’s ultimate objectives, but one objective is clear. The belt and road scheme will bring huge improvements in regional and international connectivity through …

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Trade and Payments balance- Positive: Economy Minister Says

Trade and Payments balance- Positive: Economy Minister Says

Minister of Economy sees a positive trend in the trade balance. According to Dimitri Kumsishvili, trade turnover of 8 months (excluding Hepatitis C Program) has improved trade balance. “Our trade turnover of 8 months is declined by 11% in the part of export, however it is reduced in the part of …

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