Latvia: businessmen important partners for the country’s development

This week, Latvian Economy Minister Arvils Aseradens will invite businesses to contribute to development of innovations, adding that the country’s healthy development requires businessmen as invaluable partners, because development of products, services or innovations also contributes to the development of separate industries. Next week’s agenda states that Aseradens will take part in multiple events organized…

Latvia: construction costs up in April 2017

Compared to March, the level of construction costs in Latvia increased by 0.9% in April. Labor remuneration of workers grew by 2.9%, prices of building materials increased by 0.5%, whereas maintenance and operational costs of machinery and equipment rose by 0.4%. Compared to April 2016, construction costs increased by 2%. Labor remuneration of workers rose…

Belarus: Economy Ministry to arrange regular roundtables to review macroeconomic situation

The Belarusian Economy Ministry intends to arrange roundtable sessions every month in order to evaluate the current macroeconomic situation together with representatives of other government agencies, the Public Relations Department of the Economy Ministry reported. A government conference took place at premises of the Belarusian Economy Ministry at the end of last week. It was…

Tajikistan and Kyrgyzstan discuss cross-border trade issues

Residents of border areas of Tajikistan and Kyrgyzstan believe that cross-border trade can promote providing stability and developing confidence-building measures as well as help solve economic problems facing residents of border areas. A meeting to discuss development of a cross-border trade between the Bobojonghafourov district in Tajikistan’s Sughd province and the Leilek district in Kyrgyzstan’s…

Ukraine: exports up in Q1 2017

Ukraine’s exports of goods and services grew by 28% YoY in the first quarter of 2017, to $12.4 billion, up by $2.7 billion, according to the Ukrainian Economic Development and Trade Ministry’s press service. At the same time, exports of goods increased by 34.4% (by $2.7 billion), to $10.4 billion. The share of agriculture and…

Turkmenistan developing regional transport infrastructure

Development of transportation infrastructure of Turkmenistan’s regions is an important component of the country’s large projects. This developmental activity is aimed at involving the regions in economic, trade, and humanitarian cooperation, increasing investment potential, promoting entrepreneurship in rural areas, and industrial integration, according to the report. Central Asia is becoming one of the world’s most…

Ukraine: road construction among top priorities

President Petro Poroshenko underlines the efficiency of the experiment initiated by him to allocate half of unscheduled revenue from customs duties for construction, restoration and reconstruction of roads in Ukraine. This has been reported by the press service of the Head of State. “Repair and construction of road in Ukraine is among the top priorities…

Tajikistan: EBRD accounts for some 15% of funds provided to support investment projects

The European Bank for Reconstruction and Development (EBRD) accounts for some 15% of funds provided to support investment projects in Tajikistan. Issues related to implementation of the EBRD-supported projects in Tajikistan were discussed on May 25 at a meeting of senior representatives of the State Committee on Investment and State-owned Property Management (GosKomInvest) with representatives…

Tajikistan: government allocates 30 million somoni for reconstruction of Kokhi Vahdat State Complex

Reconstruction of the Kokhi Vahdat (Palace of Unity) State Complex, which is the headquarters of the Tajik ruling People’s Democratic Party and is also used to host international conferences, has begun. The national budget has earmarked some 30 million somoni (equivalent to some $4 million) for reconstruction of the Kokhi Vahdat State Complex, a source…

Tajikistan: airlines running into fuel troubles

A lack of fuel supplies to Tajikistan’s airlines is reportedly forcing the carriers to perform layovers at foreign terminals during long international flights. The problem appears to stem from a disagreement over money owed by the airlines to the Fuel Supply Company (OJSC Toplivo-Zapravochnaya Kompaniya or TZK), which occupies a monopoly position on Tajikistan’s aviation…

Uzbekistan and Turkey sign deals worth $2 billion

A set of documents and agreements was signed in Tashkent on May 25 following a meeting of the Uzbekistan-Turkey Intergovernmental Commission for Trade and Economic Cooperation and the Uzbekistan-Turkey business forum. The documents and agreements envisage the implementation of around 30 projects in pharmaceutics, textile industry, electro-technical, construction and banking sectors, worth more than $2…

Ukraine: exports of brewing barley up

According to the official statistics figures, in July-April of the season 2016-2017 Ukraine exported 67.86 thousand tons of brewing barley, up 10.4-fold YoY (6.5 thousand tons).

In the current MY, Belarus (53%), Poland (30%) and Romania (16%) became the main foreign buyers of brewing barley from Ukraine. (APK-Inform/Business World Magazine)

Ukraine: central bank lowers refinancing rate

The board of the National Bank of Ukraine (NBU) has decided to lower the refinancing rate to 12.5% as of May 26, from 13% per annum.

The decision was sealed in NBU resolution No. 318-rsh dated May 25, the NBU said in a statement. (Interfax-Ukraine/Business World Magazine)