February news, 2024

2024-03-13

✔️ A new tax has been introduced in Georgia - from February 1, 2024, full containers imported into the country will be subject to a fee of 30 GEL. The corresponding amendment "On local fees" was introduced into the law of Georgia.

✔️ The container handling volume at the Port of Poti has increased by 22% annually. According to APM Terminals Poti data, 42,588 TEU containers were handled in the company's operating territory in January 2024, which shows a 21.5% increase compared to January 2023, and a 99% increase compared to the same period of 2022. Along with the increase in processed containers, the number of container ships entering the port has also increased. In January 2024, compared to January 2023, the increase is 30%.

✔️ The departure terminal of Tbilisi International Airport has been expanded. The large-scale project, with an investment of 2,200,000 GEL, was undertaken by "TAV Georgia," the company managing the international airports of Tbilisi and Batumi. The project aims to enhance additional comfort for passengers, increase the airport's capacity, and reduce waiting times for flights.

✔️ Turkey and Kyrgyzstan have strengthened their trade-economic relations. A new phase of bilateral cooperation in trade and economic spheres is aimed at fostering trade and economic ties. The agreement was signed, altering the 1992 bilateral intergovernmental agreement on international transportation between Turkey's Ministry of Transport and Infrastructure and the Republic of Kyrgyzstan.

✔️ "The rehabilitation of the middle corridor is of great importance for Kazakhstan," said Kanat Shalabayev, the Minister of Trade and Economic Cooperation of Kazakhstan-Germany, during a meeting of the working group between Kazakhstan and Germany on trade and economic relations. According to him, strategic synergy with Germany, particularly in transcontinental transportation routes and energy corridors, strengthens Kazakhstan's geographical position, positioning it as a regional investment hub and a key player in the global energy arena.

✔️ Kazakhstan is starting to export nitrogen fertilizer within the Middle Corridor and through Georgia. The cargo will go by sea to the port of Hovsan (Azerbaijan), followed by transit through Georgia's port of Batumi to reach European and global consumer markets.

✔️ In Georgia's seaports, governmental maritime services will be digitized. According to the project, government services in all ports of Georgia will be united under one online platform, in “one window” system. The implementation of the mentioned system in the ports of Georgia will simplify and completely digitize the procedures related to the entry and exit of the ship and will replace paper-based business processes.

✔️ In the context of European Union politics and diversification, Oliver Varhelyi, the European Commissioner for Neighbourhood and Enlargement, declared following the 8th meeting of the Georgia-EU Association Council: "New trade connections and routes are crucial, and Georgia has the full potential to become a hub for new trade routes. To achieve this, it is necessary to access the Black Sea as a new gateway to Europe, and for this purpose, we need to invest in port infrastructure and enhance it".

✔️ Finland supports the development of the Middle Corridor. This was announced in the Finnish Embassy in Kazakhstan. They also point out that investments in the Middle Corridor will benefit both Finland and Finnish companies. "Through the Middle Corridor, transport routes are diversified and transportation times from Asia to Europe are shortened," the embassy said.

✔️ Georgia is one of the key countries, and if the "Middle Corridor" is fully developed, there is a huge potential for economic development. Roland Priest, the regional director of the World Bank in the South Caucasus, announced this during a regional presentation of the new World Bank report, "Regional Policies and Investments for Cargo Diversification and Transport Time Reduction by 2030".

✔️ Blockchain technology is planned to be implemented between the port of Baku and the ports of Georgia from the second half of this year. The head of Baku International Sea Trade Port Department Khudayar Hasanli announced this at the Middle Corridor regional event in Tbilisi. According to him, this will help to increase the number of containers.

✔️ Ekaterine Imadedze, a member of the Georgian Communications Commission, said in her speech at the Mobile World Congress (MWC) held in Barcelona: "Georgia is geographically located at the crossroads of Europe and Asia, and historically, it has had to deal with various geopolitical challenges and difficulties. Today, we have the ambition and vision to turn this situation into an opportunity and make our country a regional hub for safe and sustainable digital services.