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Azerbaijan: development of SMEs important for economy

Development of small and medium-sized enterprises (SMEs) plays one of the most important roles in the development of the Azerbaijani economy, Deputy Economy Minister Sahib Mammadov declared in Baku on December 26. He was speaking at an event dedicated to establishment of cooperation between SMEs and the Center for Simplified Support for Family Business (ABAD). Mammadov reminded that the development of...

Belarus: trade with Russia at $26 billion in 2017

The trade between Russia and Belarus will reach $26 billion in 2017, Belarus' Ambassador to Moscow Igor Petrishenko. "This year the trend of economy recovery and growth is observed both in the Russian Federation and also in the Republic of Belarus. The primary indicator is the level of economic relations, the level of trade. It has reached $26 billion," he...

Kazakhstan: Air Astana to expand network thanks to convention with Ireland

The recently signed convention with Ireland on the avoidance of double taxation shall facilitate the expanding of Kazakhstan's flag carrier's route network. This was announced by the country's Deputy Minister of Finance Kanat Baedilov during the meeting of the Finance and Budget Committee of the Senate on December 26. The meeting discussed the draft law "On ratification of the Convention...

Ukraine: Wizz Air to launch Lviv-London flights from May 1, 2018

Hungarian low-cost carrier Wizz Air intends to launch new London-Lviv flights from May 1, 2018, not September 1 as previously announced, according to the renewed airline reservation system. The company has confirmed this information. The flights will be performed three times a week. In London, the flights will be carried out from Luton airport located approximately 48 km to the north...

Ukraine: Wizz Air reschedules launch of flights from Kyiv to Lisbon and Tallinn for June 2018

Low-cost airline Wizz Air has postponed the launch of flights from Kyiv to Lisbon, Portugal, and Tallinn, Estonia, by two months: from April 19 to June 21, 2018. Air's call center confirmed this information, however, it did not mention the cause behind the decision. In addition to the postponement of the launch of the new flights, Wizz Air also rescheduled an...

Tajikistan: funds for Nurek HPP rehabilitation project collected

The lower house of the Tajik parliament ratified the financing agreement under the project "Nurek HPP Rehabilitation, Phase 1" on December 24. The agreement was signed between the Republic of Tajikistan and the International Development Association (IDA) in June. "IDA will allocate $225 million for the implementation of this project, of which $57 million as a grant, and the rest -...

Estonia: no new taxes in 2018

Prime Minister Juri Ratas said no new taxes would be implemented next year, but added that he would like to increase the quota of workforce coming from outside the European Union. "I do not think it right to make new decisions concerning the tax policy a year before the end of this composition of the parliament. No new taxes will...

Uzbekistan: transit cargo transportation with Iran considered

Uzbekistan and Iran considered transit cargo transportation, as the Uzbek Foreign Trade Ministry hosted a meeting with Deputy Minister of Industry, Mines and Trade of Iran Mojtaba Khosrotaj. The sides mulled the current state and prospects of trade and economic cooperation, as well as further cooperation in the field of transport and transit cargo transportation. In addition, the parties agreed to...

Ukraine: U.S. to deprive country of certain trade preferences

The United States has decided to suspend a number of preferences regarding duty-free trade with Ukraine, according to a letter from U.S. President Donald Trump to the Speaker of the House of Representatives and the President of the Senate, published on the White House's website. "Pursuant to section 502(d)(3) of the Trade Act of 1974, as amended (19 U.S.C. 2462(d)(3)),...

Ukraine: local budgets get UAH 173.5 billion in January-November 2017

In January-November the general fund of local budgets received UAH 173.5 billion, which is 96.7% of the annual projected figures, Vice Prime Minister - Minister of Regional Development, Construction, Housing and Utilities Service Hennadiy Zubko declared. According to him, 692 united territorial communities have been created in Ukraine. A total 3,327 local councils have united, which makes up almost one...