A Toast to UK–Serbia Friendship: Gapuma at the King’s Birthday Party in Belgrade
19 June 2026 Gapuma Group is proud to have sponsored the King’s Birthday Party hosted by the British Embassy in Belgrade – a splendid garden reception bringing together figures from across government, business and the diplomatic community to celebrate the warm and enduring friendship between the United Kingdom and Serbia. It was a privilege to support the evening alongside a distinguished group of fellow sponsors, among them AstraZeneca, Range Rover, Chivas Regal, Frikom, Harrisons, Menzies Aviation and Delta DMD, the leading Serbian distributor of fast-moving consumer goods. Good company, in every sense. The evening offered a welcome reminder that trade and diplomacy move in step. Serbia continues to position itself as a dynamic hub at the crossroads of Central and South-Eastern Europe, and the United Kingdom remains a natural partner in that ambition – in commerce, in investment and in the exchange of ideas that underpins any lasting relationship between two nations. As a commodities trading company with a genuinely international footprint, Gapuma has long understood that strong bilateral ties are not an abstraction. They are built reception by reception, conversation by conversation, and partnership by partnership. Jack Bardakjian, Group Managing Director of Gapuma Group, said: “Gapuma takes great pride in being associated with the promotion and strengthening of bilateral ties between the United Kingdom and Serbia. Relationships of this kind open doors – for business, for communities and for the next generation of partnerships – and we are delighted to lend our support to an occasion that celebrates everything the two countries can achieve together.” Our thanks go to His Majesty’s Ambassador, Edward Ferguson, and the embassy team for their warm hospitality, and to everyone who joined us in raising a glass to a partnership with a long future ahead. See a video of the festivities here
Ghana: Where it all began, and where we headed next
There are companies that arrive in a market, and there are companies that were born in one. For Gapuma Group, Ghana is the latter. When our founder, Jack Bardakjian, started the business in 1999, the very first trade was in Ghana – a decision he took, in his own words, “against all the advice and all the predictions.” Twenty-six years on, that instinct has become the foundation of everything we are: an international commodities group sourcing from more than thirty countries and delivering to over fifty, with an active in-country presence in West Africa that traces directly back to where we began. So when Ash Unadkat, our Office and Quality Manager, made his first overseas trip on behalf of the company this month – accompanied by our Procurement Consultant, Raj Thakkar – it was no accident that the destination was Accra. You return to your roots when you want to grow. The timing could hardly be richer. Ghana stands at a genuinely interesting moment. The 24-hour economy initiative, the Accra–Kumasi Expressway, and continued development across the gold, oil, energy, cocoa, and financial sectors are reshaping the commercial landscape – the same sectors that have anchored the bilateral relationship between Ghana and the United Kingdom for generations. That relationship runs deep. Ghana was the first sub-Saharan African nation to win independence from colonial rule, in March 1957 – a milestone that made it a trailblazer for a continent. The bonds forged since, in language, trade, the Commonwealth, and a vast and vibrant diaspora, remain among the closest the UK holds anywhere in Africa. Our London-based Ghanaian colleague, Yannick Annor, captured that spirit beautifully after meeting the President of the Republic of Ghana in London on 31 May. He wrote of a diaspora encouraged to return, invest, and bring their knowledge home – and of his own reasons, as a French-Ghanaian, for choosing the UK precisely because it kept him close to Ghana. “We all have a role to play in shaping the future of our country,” he said. We could not agree more, and we are proud to play our small part. And then there is the football. In exactly twenty days, on 23 June, the Black Stars meet England at Gillette Stadium in their first-ever competitive fixture between the two nations. Whatever the scoreline, there is something fitting about it: two countries bound by history, meeting on the world’s biggest stage, just as one of them welcomes us back to where our story started. From a single trade in 1999 to a quarter-century of partnership – Ghana, it has always been you. 🇬🇭
Welcome to Luka
7 April 2026 We are delighted to welcome Luka MacInnes-Bouffard to Gapuma as our new Junior Trader. Luka joins us from the UK Civil Service Fast Stream, where he was working as a Policy Analyst at the Home Office on Police Reform – a prestigious programme that many would be reluctant to leave. But Luka’s sights are firmly set on commodities, and we are very glad they are. As founder and president of the Oxford Commodities Society – the first of its kind at the university – and author of a Substack analysing global energy and commodity markets, he arrives with genuine passion for the sector as well as a sharp analytical mind. A first-class History graduate from Oxford, Luka will begin with a structured orientation period, shadowing our Operations, Finance and Trading divisions before taking up his core responsibilities: maintaining and developing our customer database and building relationships with our longstanding clients. He will be working under the guidance of our Purchasing Director, Russell Brill. In mid-May, Luka will also begin the Level 4 Diploma in International Trade with the Institute of Export and International Trade – a qualification that will provide a solid grounding in the practical disciplines that underpin everything we do at Gapuma. Please join us in wishing Luka every success. We think he is going to go far.
London: The New Crossroads of Trade
A Frozen Bridge for U.S.-China Relations A Welcoming Embrace for India 24th July 2025 As two tectonic shifts in global trade diplomacy unfold in London, the city once again finds itself a crucible for competing visions of globalisation. On one side, a faltering relationship between the United States and China teeters on the edge of renewed hostility, even as both parties prepare for a new round of negotiations. On the other, the arrival of India’s Prime Minister Narendra Modi marks the culmination of an ambitious UK-India trade pact, one being hailed as a milestone for post-Brexit Britain. These developments — playing out simultaneously in the same city — offer a revealing snapshot of the state of international trade, diplomacy, and strategic alignment in 2025. A Frozen Bridge for U.S.-China Relations Tensions between the U.S. and China remain acute. Despite a cordial front and public statements calling for “mutual respect” and “win-win cooperation”, trade between the two economic giants has stalled in key sectors. U.S. exports of crude oil, liquefied natural gas (LNG), and coal to China hit zero last month — a stark indicator of deepening friction. According to Chinese customs data, energy imports from the U.S. began collapsing in March when Beijing imposed retaliatory tariffs of 10–15% in response to American pressure. Washington’s rhetoric has veered between conciliation and brinkmanship. Treasury officials have suggested the relationship is “in a good place”, yet President Trump has issued an ultimatum: reach a deal by 12 August or face even steeper tariffs. With energy trade halted and broader economic trust eroded, negotiations now risk becoming performative rather than productive. Warm Welcome for India In stark contrast, Narendra Modi’s visit to London signals a rare bright spot in international trade. The UK-India trade deal, finalised this week, marks the most significant bilateral agreement for Britain since its departure from the European Union. It promises liberalised trade across goods, digital services, pharmaceuticals, and the movement of skilled labour. Symbolically and strategically, this partnership demonstrates both countries’ pivot away from traditional Atlantic alignments and towards a multipolar future. For India, this is part of a broader push to assert itself as a manufacturing and technological alternative to China. For the UK, the deal is a concrete step in delivering on the promise of “Global Britain” and diversifying supply chains beyond the EU and China. Diplomacy in a Fragmented World The juxtaposition of these two developments in London underscores the shifting tides in global diplomacy. Whereas Cold War-era alignments once dominated the international order, the 21st century is increasingly shaped by regional partnerships, transactional diplomacy, and contested norms of engagement. The China-U.S. standoff reflects a breakdown of trust between the two largest economies, with energy trade — a pillar of past cooperation — now weaponised. Meanwhile, India’s alignment with the UK symbolises a constructive alternative: partnerships built on shared democratic values, strategic interests, and mutual economic gain. Implications for Globalism and Security These contrasting stories also point to diverging models of globalisation. One is increasingly fragmented, shaped by tariffs, coercion, and rivalry. The other is cautiously optimistic, rooted in bilateralism and cooperation among emerging and middle powers. Yet the implications go beyond trade flows. A prolonged breakdown between China and the U.S. risks fuelling economic decoupling, reshaping energy markets, and accelerating the formation of parallel financial systems. Meanwhile, strengthened ties between countries like India and the UK could create new centres of influence, challenging traditional global institutions. London, long a symbol of open markets and internationalism, now hosts both a high-stakes power play and a hopeful handshake. The outcomes of these two engagements will reverberate well beyond the city — shaping not only trade balances, but the future of global diplomacy itself.
Strengthening UK–Serbia Ties: Gapuma at the King’s Official Birthday Party in Belgrade
20th June 2025 On Thursday, Gapuma was honoured to attend the celebration of His Majesty King Charles III’s Official Birthday, hosted by His Excellency Edward Ferguson, British Ambassador to Serbia. Held in Belgrade, the event brought together a distinguished group of British businesses operating in Serbia, reflecting the strength of bilateral trade and diplomatic relations between the United Kingdom and Serbia. Gapuma was represented by Aron Mohaci, Managing Director of Gapuma Serbia, alongside other colleagues from the regional team. The event served as a valuable opportunity to engage with fellow UK-based companies, including AstraZeneca, British Motors, ARUP, Endava, Bechtel, G4S, ERG International Group, Chivas Regal, Tanqueray, Froneri, Harrisons, and Menzies Aviation. All were present to mark this formal occasion and reaffirm the shared values that underpin our work in the region. Our presence in Serbia Gapuma has established a long-standing and growing presence in Serbia, recognising the country’s role as a strategic economic and logistical gateway to Southeast Europe. Our operations support key sectors through the supply of critical raw materials and bespoke industrial solutions, helping to meet the demands of an increasingly dynamic local market. With Serbia’s advantageous geographical position and its ongoing economic reforms, the country is fast becoming a vital partner in regional industrial development. At Gapuma, we focus on fostering long-term relationships through the consistent delivery of high-quality services and materials that match local needs and global standards. Our commitment to collaboration The King’s Official Birthday Party was not only a celebration of a significant national occasion, but also a reminder of the importance of diplomacy, mutual respect, and commercial cooperation. Gapuma values the trust we have earned in Serbia through sustained engagement, investment, and responsiveness to market shifts. Our participation in this event underscores our ongoing commitment to playing a constructive role in Serbia’s economic progress. As our operations in the region continue to grow, we remain firmly focused on delivering value with integrity and on deepening our partnerships across sectors and borders. We extend our warm thanks to the British Embassy in Belgrade for its kind invitation and hospitality, and for its ongoing support of UK companies contributing to Serbia’s development.
Belgrade Gears Up for Expo 2027: A Catalyst for Economic Growth and Global Recognition
29th May 2025 Belgrade is set to host Expo 2027 from 15 May to 15 August 2027, marking a significant milestone as the first world exposition in the former Yugoslavia. With the theme “Play for Humanity: Sport and Music for All,” the Expo aims to showcase the unifying power of play, sport, and music in fostering global connections and innovation. The Expo is anticipated to attract over 4 million visitors and participation from more than 100 countries, positioning Serbia as a modern, innovative hub on the global stage. The event is expected to serve as a catalyst for Serbia’s economic development, with investments in infrastructure, tourism, and cultural institutions. In alignment with this national momentum, Gapuma has been expanding its business activities in Serbia and the surrounding region. Established in 2017, Gapuma Serbia focuses on the sale of grains and has recently invested in a 22,000-tonne silo distribution centre in Novi Sad, enhancing grain distribution across Serbia and Europe. This investment underscores Gapuma’s commitment to fostering trade and economic development in the region. As Serbia prepares for Expo 2027, the synergy between national initiatives and private sector investments like Gapuma’s is poised to redefine the country’s economic landscape and international image.
Gapuma Strengthens Industry Ties at ChemExpo 2025
08th May 2025 Gapuma was proud to participate in ChemExpo 2025, South Asia’s premier international exhibition for the chemical industry, held in Mumbai last week. The event brought together over 500 exhibitors and thousands of delegates from across the globe, offering a vital platform for knowledge exchange, commercial collaboration, and industry insight. Representing Gapuma at the event, our Channel and Product Manager, Sunil Bahl, engaged with a broad range of suppliers, distributors, and manufacturers operating across key sectors — including pharmaceuticals, personal care, polymers, textiles, industrial coatings, and more. Among the many constructive conversations was a detailed exchange with senior representatives of Sarex Overseas, a respected name in the speciality chemicals space with a strong international reputation built over more than sixty years. Their focus on diversified application areas closely reflects Gapuma’s own commitment to providing integrated solutions to clients across complex global markets. Participation in ChemExpo 2025 reaffirmed the value of physical industry gatherings in building trust, uncovering innovation, and fostering long-term relationships. As demand continues to rise for reliable, ethical, and sustainable chemical sourcing, Gapuma remains at the forefront of efforts to connect world-class producers with end users across emerging and established economies. We extend our thanks to the organisers of ChemExpo for curating such a vibrant and forward-looking event. We look forward to building on the many conversations started in Mumbai and to continuing our mission of delivering value through global trade, sectoral expertise, and partnership-led growth.
UK–India Trade Deal Opens New Horizons
07th May 2025 On Tuesday, the United Kingdom and India finalised a landmark free trade agreement aimed at increasing bilateral trade by £25.5 billion annually by 2040. The deal significantly reduces tariffs on a wide range of goods, including British exports such as cosmetics, medical devices, and aircraft components, while 99% of Indian exports — including textiles, foodstuffs, and jewellery — will face no import duty in the UK. For British commodities trading companies like Gapuma, which operates across sectors including, coatings, cosmetics, extractive industries, food and drink, manufacturing, and packaging, the agreement presents substantial opportunities. The reduction in tariffs on British goods exported to India, particularly in cosmetics and medical-grade products, aligns with Gapuma’s supply capabilities and could enhance its competitiveness in the Indian market. Furthermore, the removal of duties on the majority of Indian exports to the UK may benefit Gapuma’s sourcing strategies, particularly in textiles and food-related sectors, by reducing costs and broadening product availability. The deal’s provisions for goods and services trade, along with modest improvements to business mobility — including simplified visa access for Indian professionals — may further facilitate smoother operations and cross-border collaborations. As the global trading environment continues to evolve, Gapuma’s diversified portfolio and well-established international presence leave it well placed to take advantage of the new opportunities emerging from this UK–India agreement — a strategic move that could shape the future of commodities trading between two of the world’s largest economies.
Exploring New Horizons: Gapuma Strengthens Presence in Chile
24 April 2025 In a strategic move to boost Gapuma’s footprint in Latin America, Monica Bernal, Business Development Manager, recently completed her first market visit to Chile. The primary focus of the trip was to deepen engagement with key customers in the coatings and paints industries, working closely with Gapuma’s local agent. While Gapuma has successfully supplied epoxy resins and hardeners in other markets, sales in Chile have remained limited — a challenge Monica set out to address. Over an intensive week, Monica visited an average of three customers per day across Santiago, the nation’s capital, and the coastal city of Viña del Mar. Alongside showcasing Gapuma’s established product range, she also introduced customers to new lines that have been added to the portfolio over the past year. Chile presents a dynamic and highly competitive environment, where imported products face fewer restrictions than in other markets. Recognising the need for a stronger local presence, Monica identified two key priorities: the appointment of a proactive local distributor and greater engagement from Gapuma’s local representative. “I hope my enthusiasm during the trip managed to inspire our agent,” Monica reflected. “Building stronger relationships on the ground will be key to unlocking the full potential of the Chilean market.” Monica’s visit marks an important step in Gapuma’s efforts to expand in Latin America, reaffirming the company’s commitment to understanding customer needs and adapting to regional challenges.