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Azeski: new markets should compensate our lower export.

According to the Programme of work of the Economic Chamber of Macedonia in 2013, the main activities, among others, are focused on the provision of basic assumptions about the growth of export and particularly export to new markets. In short term it would reimburse the difference of reduced export to the member-states of the European Union and CEFTA, and in long term new markets would be provided. These activities will continue in the future, as export results and their impact on the economic situation of the country indicate that, said Branko Azeski, President of the Economic Chamber of Macedonia.

"The re-actualization of the debt crisis in the Euro zone affect the growth of rates of our major trading partners and led to decline in the foreign effective demand for the first time since 2009. Reduced demand for Macedonian products, and lower world export prices, adversely affected the domestic industry and the export sector in 2012 therefore an action was needed.

The figures show that the total value of export of goods from the Republic of Macedonia last year was just over US$ 4 billion, which is down to 10.2 percent compared with 2011. Import coverage by export was 61.5 percent, and the trade deficit amounted to US$ 25 billion.

But, if we enter into numbers, we can draw many serious conclusions that told us that we should not sit with "arms crossed" but need to work on solutions. For example, from the total foreign trade 53 percent took place in 6 countries. Such high concentration of Macedonian export to only few countries can have negative consequences on the further growth of export, having into consideration the IMF projections for economic activities globally and separately by regions for 2013 and 2014", said Azeski.

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Title Annotation:NEW MARKETS
Publication:Macedonian Business Monthly
Article Type:Brief article
Geographic Code:4EXMA
Date:Jul 1, 2013
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