BAKU, Azerbaijan, Apr. 6
By Tamilla Mammadova – Trend:
Re-export volume of Caucasus Auto Import was 45 percent down in 2020 year-on-year, which was due to the increase of customs duty rates in Armenia, said Aleksandre Vekua, Head of Sales Department of Caucasus Auto Import company, Trend reports via Georgian media.
In addition, he noted that new markets have appeared for vehicle exports from Georgia.
“The 2020 was full of challenges, but we had to overcome them. We continued cooperation with other neighboring countries Azerbaijan and Ukraine,” Vekua noted.
According to him, the dynamics of trading countries have changed and demand has emerged from such markets as Iraq, Moldova and Russia, which creates grounds for optimistic expectations that Georgia will keep the role of re-exporting hub in the region for the coming years.
"The fact that Georgia still keeps the role of re-exporting hub in the region is a merit of the Black Sea. In 2017-2020 the country has an average income of 500 billion lari ($146.7 billion) from car re-exports. Revenue from re-exports in 2019 was $834 million, while in 2020 it was $437 million," he noted.
Georgia has been formed as a regional hub for re-exporting used cars since 2005. Vehicles are imported from Japan and the US and then sold to the local as well as regional markets. Vehicles are major export commodities of Georgian foreign trade.
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