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Talks Between the President of Turkmenistan and the Prime Minister of Georgia were focused on Transport, Energy, and Business
Negotiations between President of Turkmenistan Serdar Berdimuhamedov and Prime Minister of Georgia Irakli Kobakhidze took place on 17 July 2026 in Tbilisi.
The sides conducted the meeting in both a tete-a-tete format and with expanded delegations. Ashgabat and Tbilisi signed a substantial package of bilateral documents laying the foundation for long-term partnership following the visit. As Prime Minister Irakli Kobakhidze emphasized during the one-on-one meeting, Georgia attaches great importance to deepening a productive dialogue with Turkmenistan.
From his side, President Serdar Berdimuhamedov mentioned the close cooperation established between the two countries in political-diplomatic, trade-economic, and cultural-humanitarian spheres. Also, Berdimuhamedov thanked the Georgian side for its consistent support of Turkmenistan’s policy of permanent neutrality and its international initiatives at the United Nations.
As the both sides confirmed during the negotiations, they are ready to further deepen relations in the political, trade-economic, cultural, and humanitarian spheres. They paid particular attention to cooperation in the transport and energy sectors. Consequently, Turkmenistan and Georgia recognized the exceptional importance of connectivity and the development of the Middle Corridor. The both countries said they were ready to contribute to the further development of trans-Caspian transport routes. Also, the continuity of the strategic course whose solid foundation was laid in 2015 during the visit of the National Leader of the Turkmen people was stressed during the expanded-format negotiations with government delegations.
They identified the Intergovernmental Commission on Economic Cooperation as the key mechanism for enhancing business partnership, coordinating the growth of bilateral trade. A top strategic priority on the joint agenda was transport and logistics. As the President of Turkmenistan confirmed, he was ready to assist Georgia in accessing the markets of Central Asia, South Asia, and the Asia-Pacific region.
Both sides paid particular attention to the implementation of transit corridors, including the multimodal Lapis Lazuli route (Afghanistan–Turkmenistan–Azerbaijan–Georgia–Türkiye). The integration into the TRACECA corridor system was also mentioned.
Moreover, The President also got interested in expanding cooperation in the energy sector. He was ready to discuss on future collaboration in this area substantively.
Scientific and educational ties, tourism, and intercultural relations were covered by the humanitarian dimension of the talks. The Turkmen side proposed considering sister-city ties between the major port cities of Turkmenbashi and Batumi. This will continue the practice of twinning relations between the cities, following the example of Arkadag and Telavi.
Also, President Serdar Berdimuhamedov invited Prime Minister Irakli Kobakhidze to visit Turkmenistan at a convenient time at the conclusion of the official meeting. Kobakhidze accepted the invitation with gratitude.
Finally, the both sides highly assessed the outcomes of the state visit after the official ceremony.
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Read moreRecord business registrations in Kazakhstan are driven by foreign ownership
Highest number of newly registered legal entities in nearly three years was recorded in Kazakhstan. As the Data Hub Telegram channel reports, around 4,500 new companies were registered in June alone by the justice authorities. It is the highest monthly figure since November 2022.
The number of newly registered entities increased by 31%, compared with May 2026. Meanwhile, calculations based on data from Kazakhstan’s Bureau of National Statistics show that the year-on-year increase attained 44%.
Much of the growth was created by companies with foreign ownership. Compared with June last year, their number demonstrated a 49% increase month-on-month. Comparatively, only 16, or 0.4% all legal entities registered in June, were wholly state-owned.
Around 2,500 legal entities, or 55.7% of newly registered companies, were privately owned. Meanwhile, around 1,960 entities, or 44%, had foreign ownership.
Almaty demonstrated the most notable business activity, with around 2,400 new legal entities registered. It is more than half of all registrations nationwide in June. They established around 1,700 of those entities with foreign capital.
Then followed Astana (777 new entities registered during the month, around 17% of the total).
The majority of all newly registered legal entities were classified as small businesses. 4,400 belonged to small enterprises category.
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Read moreHigher duty-free limit is necessary, according to Free Business association.
According to the Association of Free Businesses, the current limit no longer reflects economic realities. So, the Ministry of Finance has called on to increase the duty-free threshold for postal items from GEL 300 to GEL 900. The association introduced the existing threshold in 2009, but changes in the country’s economy (currency depreciation, inflation and […]
Read moreNew Serbian accounting law
The Ministry of Finance of Serbia has drafted a new Accounting Law to replace the one of 2019. Together with a new draft Audit Law, it is designed to bring the country closer to European Union reporting standards ahead of accession.
They expect most of the new rules to come into force from 2027 and the heaviest new obligations to push out to 2030.
In general, the law divides companies into micro, small, medium and large.
The first change concerns the revenue ceilings: the thresholds increase to nearly €900,000, €10 million and €50 million.
The second change is based on “net operating revenue” — only the sale of goods, products and services. It leaves out subsidies, changes in inventory and capitalized work. Some companies could think that it means dropping into a lower category and a lighter reporting burden for them.
Nevertheless, the mandatory-audit threshold stays at total revenue above €4.4 million, according to the draft Audit Law.
In reality, large entities, listed and public-interest entities, and parent companies that prepare consolidated accounts would apply full IFRS. Small and medium companies will have the option to move up to full IFRS, but would use IFRS for SMEs. A national rulebook built on general accounting principles will be mandatory for micro entities, with the option of IFRS for SMEs. The framework for most mid-sized firms will not change.
According to the EU’s Corporate Sustainability Reporting Directive, large and public-interest entities would have to disclose environmental, social and governance information on a “double materiality” basis. It means they must report how sustainability issues affect the business and how the business affects people and the planet. Also, large multinational groups will have to report income tax publicly country-by-country.
Nevertheless, these obligations will begin only in 2030. Only Serbian subsidiaries of EU groups already face the CSRD at group level.
Many Serbian companies entrust their accounting to an external agency. So, accounting-service providers would have to carry mandatory professional-liability insurance, with a minimum sum tied to their prior-year fee income. It will be necessary to undergo continuous verification that they still meet licensing conditions, at their own cost. Another task is to complete ongoing professional training at designated bodies. Finally, additional data about their clients must be filed.
These costs will show up in fees for the businesses.
Also, day-to-day administration will undergo a few changes. Firstly, not only the legal representative but also the people responsible for preparing financial statements would have to sign them. Secondly, the deadline for submitting and recording accounting documents would move from five to eight working days. Finally, they will spell out retention periods: 20 years for financial statements and annual reports, 10 for the journal and general ledger, five for auxiliary ledgers.
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Read moreGeorgia Discusses Joint Business Projects with Uzbekistan
Regular meeting of the Uzbek-Georgian Business Council took place in Tbilisi on 1 July 2026. It prepared the state visit of the President of Uzbekistan, Shavkat Mirziyoyev, to Georgia.
Prospects for expanding trade and economic cooperation, developing industrial cooperation, and implementing new investment projects were in the spotlight of the discussion.
The Deputy Chairman of the Chamber of Commerce and Industry of Uzbekistan, Odilkhon Rustamov, the President of the Georgian Chamber of Commerce and Industry, Giorgi Pertaia, and representatives of leading business circles from both countries attended the meeting.
Positive dynamics in bilateral economic cooperation was noted by participants. The volume of mutual trade reached US$267.6 million by the end of 2025. Meanwhile, it stood at US$89 million in 2017. US$77.2 million of this total volume were accounted for Uzbek exports to Georgia. Meanwhile, imports from Georgia attained US$190.4 million.
Both parties agree that they will increase mutual trade turnover to US$1 billion due to effective utilization of the free trade regime and transport and logistics potential.
Also, the pharmaceutical sector, electrical engineering and chemical industries, construction materials production, agricultural processing, textiles, winemaking, as well as in the fields of transport and logistics have a great potential for implementing joint projects.
Mutual intention to intensify interaction between the business communities of Uzbekistan and Georgia, support joint investment projects, and consistently develop cooperation within the framework of the Uzbek-Georgian Business Council was reaffirmed following the meeting.
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Read moreAverage salary in Novi Sad decreased in April compared to March
The data from the Statistical Office of the Republic of Serbia show that the average gross salary in Novi Sad for April this year was 191,525 dinars, including taxes and contributions. That means that residents of Novi Sad earned less than in March.
The amount of the net salary in the capital of Vojvodina in April reached 138,914 dinars, without taxes and contributions. 021.rs reports that it is 2,500 dinars less than in March.
However, the average salary across the whole of Serbia in April was 200 dinars more than in March (121,805 dinars).
Nevertheless, the median salary remains a much more reliable indicator of the purchasing power of Serbian citizens, despite the average salary for April this year exceeding €1,000.
As of April, the median salary in Serbia stood at 94,585 dinars. As statistics from the Republic Office show, it is significantly lower than average earnings.
Meanwhile, the average net salary in Serbia has increased from 109,000 dinars to 121,000 dinars over the past year. This is around 12,000 dinars more, but the inflation rate for that period stands at 3.3 per cent.
They expected Novi Sad to be the city with the highest earnings in Vojvodina. Despite these expectations, Pančevo with 122,000 dinars and Inđija with 116,000 dinars overtook Vršac in April. So, Novi Sad takes the fourth place with a salary of 115,000 dinars.
The highest average salary in the entire country was in Belgrade. In April it attained 150,000 dinars (3,000 less than in March).
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Read moreU.S. business investigates Kazakhstan’s investment opportunities
As Deputy Prime Minister – Minister of National Economy Serik Zhumangarin said at the Kazakhstan–United States Roundtable in Astana, Kazakhstan sees strong potential for expanding investment cooperation with American companies in raw material processing, import substitution, infrastructure and export-oriented industrial projects.
According to Zhumangarin, strengthening engagement with the United States remains one of the main external economic priorities of the Government of Kazakhstan.
The Minister assured that the country is implementing measures to improve the business climate, protect investors’ rights and attract high-quality investment.
He also added that the conditions in Kazakhstan are attractive, the returns are sound, and the financial resources are available.
Zhumangarin emphasized that Kazakhstan offers major opportunities in deep processing of raw materials, import substitution and infrastructure. They estimate the potential pipeline in raw material processing at about $95 billion. Meanwhile, import substitution projects exceed $20 billion.
Concerning infrastructure, more than 200 projects worth about $80 billion are included in the National Investment Plan. Meanwhile, the Energy and Utilities Modernization Program adds another $25 billion for power generation and networks.
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Read moreKyiv and Tokyo deepen partnership on recovery, economic development and reforms
On June 23 in Kyiv, Ukraine’s Deputy Prime Minister for European and Euro-Atlantic Integration, Taras Kachka, held a meeting with a delegation led by Japan’s State Minister of Economy, Trade and Industry, Kenji Yamada, and Japan’s State Minister for Foreign Affairs, Ayano Kunimitsu.
The sides discussed further support for Ukraine, the development of bilateral trade and investment, the participation of Japanese business in Ukraine’s reconstruction, as well as cooperation in the fields of security and reforms.
Taras Kachka thanked Japan for its consistent support for Ukraine since the beginning of the full-scale invasion and emphasized the importance of continuing assistance amid ongoing Russian aggression.
Particular attention was paid to attracting Japanese companies to Ukraine’s reconstruction and to the development of joint projects in energy, cybersecurity, infrastructure, and industry.
The Japanese side reaffirmed its unwavering support for Ukraine, its readiness to continue implementing reconstruction programs, and to promote broader participation of Japanese businesses in rebuilding projects.
Taras Kachka also stressed the importance of finalizing negotiations on updating the Agreement between Ukraine and Japan on the Promotion and Protection of Investments.
“We are interested in creating the most favorable conditions for Japanese investors in Ukraine. An updated investment agreement will be an important signal for business and will help deepen economic partnership between our countries, especially after Ukraine’s accession to the European Union,” he said.
They also discussed Ukraine’s progress in reforms. Kachka informed Japanese partners about the opening of Cluster 1, “Fundamentals of the Accession Process to the EU,” within the EU accession negotiations, as well as the results of the latest OECD 2026 Anti-Corruption and Integrity Review, which confirmed Ukraine’s strong performance in judicial integrity, political finance, and anti-corruption policy.
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Read moreThe Pension Insurance Law New changes
The new changes to the Pension insurance law will give professional soldiers the right to retire under the same conditions as officers and non-commissioned officers. Also, additional years of service will help pensioners increase their pensions. Moreover, new rights will appear for farmers.
According to amendments to the Law on Pension and Disability Insurance, professional contract soldiers will get an old-age pension after completing 40 years of pensionable service and reaching at least 53 years of age. It will bring their status into line with that of other members of the professional armed forces.
Also, new amendments will include the right to attendance allowance and care assistance into the insured risks covered by the pension and disability insurance system for the first time.
As for pensioners who continue working after retirement, recipients of old-age and early retirement pensions who accumulate at least one additional year of pensionable service after retiring will be able to apply for a recalculation of their pension.
A new, more favorable pension amount, will be calculated by the Pension and Disability Insurance Fund (PIO Fund) in such cases. The additional period of service completed will be the basis of this new pension amount.
Farmers will be also affected by some amendments. For example, holders of family agricultural holdings who pay income tax on self-employed activities or value-added tax (VAT) will get mandatory insurance coverage in the future.
However, there will be the possibility of suspending insured status in cases of natural disasters, illness or maternity leave.
New categories of insured persons are also in the draft law. They are employees working for foreign employers that do not have a registered representative office in Serbia. The condition is application of Serbian regulations to them in accordance with the rules governing the coordination of social security systems.
According to the proposed amendments, people acquire old-age and early retirement pensions only after insurance coverage has ceased. Nevertheless, there are certain exceptions for specific categories of insured persons and individuals. Their most recent insurance coverage should be in countries with which Serbia has concluded social security agreements.
Reimbursement of funeral expenses is also among the changes. According to the proposal, persons who bear the costs of burying beneficiaries of certain disability-related benefits and residual work-capacity benefits will get it.
They expect most provisions of the law to enter into force on the eighth day following publication in the Republic of Serbia’s Official Gazette. Nevertheless, it will be possible to apply for provisions relating to harmonization with European Union rules only after Serbia joins the EU.
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Read moreThe work of the Intergovernmental Commission on Trade and Economic Cooperation between Kyrgyzstan and Georgia is resumed after a ten-year hiatus
The second meeting of the Kyrgyz-Georgian Intergovernmental Commission on Trade and Economic Cooperation took place at the Ministry of Economy and Commerce of the Kyrgyz Republic in Bishkek. It marked the resumption of the Commission’s activities after a ten-year hiatus.
Also, Georgia’s Minister of Environmental Protection and Agriculture David Songulashvili attended the meeting.
Bakyt Sydykov, Minister of Economy and Commerce of the Kyrgyz Republic, and Mariam Kvrivishvili, Minister of Economy and Sustainable Development of Georgia co-chaired the Commission.
The considerable potential for cooperation between Kyrgyzstan and Georgia in the fields of trade and economic relations, investment, transport and logistics, tourism, agriculture, and cultural and humanitarian exchanges were the main topics of the meeting.
Particularly, Bakyt Sydykov highlighted Kyrgyzstan’s consistent policy aimed at economic modernization, improving the investment climate, and supporting entrepreneurship. Preliminary results show the country’s economic growth by over 11 percent in 2025. Meanwhile, growth for the first four months of 2026 reached 12.4 percent.
The Minister specified that improvements in tax and customs administration, the digitalization of public services, the reduction of the shadow economy, and stronger public-private partnerships made these achievements possible.
Georgia’s economic growth by 7.5 percent in 2025 created additional opportunities for expanding bilateral trade and investment cooperation.
Mariam Kvrivishvili highlighted that Georgia is an important transport and logistics bridge between Europe and Asia due to its strategic geographic location. It also connects the Middle East, South Asia, the Caucasus, and Central Asia.
As she emphasizes, the development of transport and logistics infrastructure is particularly important.
Another key driver of the country’s economic growth is tourism. It brought a record amount of around USD 4.7 billion in 2025. Nearly 7.8 million visitors from different countries came to Georgia, including Kyrgyzstan.
According to the participants, the Intergovernmental Commission is an important mechanism for advancing joint initiatives and ensuring the practical implementation of agreements between the two countries. The sides signed agreements in the areas of investment, avoidance of double taxation, education, and statistics following the first meeting of the Commission. Moreover, they successfully carried out a number of joint activities and reciprocal visits.
Also, the current state and future prospects of cooperation in foreign policy, trade, investment, agriculture, transport, logistics, and other areas of mutual interest were discussed by the representatives of relevant ministries and government agencies from both countries during the meeting.
Also, discussions on cooperation in information and communication technologies, environmental protection, education, culture, communications, labor, and employment were in the agenda.
Finally, they signed the Protocol of the Second Meeting of the Kyrgyz-Georgian Intergovernmental Commission on Trade and Economic Cooperation.
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