Connect with us

Business

Afghanistan generates up to $70bn annually from drug trafficking

Published

on

(Last Updated On: October 25, 2022)

afghan-drug

Drug money is a massive source of profit for criminal groups and terrorists that makes up to $70 billion annually from drug trafficking and production.

The profits are largely reaped at the level of the international wholesale and retail markets of drug as well as in the process of money laundering in Western banking institutions. 

The revenues derived from the global trade in drug constitute a multibillion dollar bonanza for financial institutions and organized crime.

Afghanistan transparency watchdog says illegal financial flows created fields for terrorists and criminal groups.

According to the watchdog’s findings, millions of dollars annually transferred to foreign countries from Kabul airport by the government officials and powerful.

But the government asked an opportunity to review the report and emphasized that they are working in a scheme that no one can illegally transfer the money outside the country.

 US has pumped $7.6bn in counter-narcotics spending into the country, but the results have been dismal.

The explosion in opiate production, unaffected by the $7.5bn spent by the US since 2002 to combat it, puts “the entire US and donor investment in the reconstruction of Afghanistan at risk,” special inspector general John Sopko told a Senate panel.

Based on recent figures, drug trafficking  constitutes “the third biggest global commodity in cash terms after oil and the arms trade.

Advertisement

Business

Azizi calls on Malaysian investors to invest in Afghanistan

Published

on

(Last Updated On: April 24, 2024)

Nooruddin Azizi, Acting Minister of Commerce and Industry, met with representatives from the ministries of foreign affairs, defense and interior of Malaysia, along with other senior officials, on Wednesday and called on Malaysians to invest in Afghanistan.

The visiting delegation is being led by senior diplomat Dr. Shazelina Zainul Abidin.

According to the IEA’s foreign ministry, the two sides discussed bilateral trade, holding a business communication conference to strengthen trade relations between the two countries, the trade balance between Afghanistan and Malaysia, and creating a market for Afghan products, including carpets, cotton, and minerals.

According to the ministry, at the end of the meeting, the Acting Minister emphasized the increase of investment from regional countries in Afghanistan and called on Malaysian investors to also invest in Afghanistan.

Continue Reading

Business

Afghanistan starts exporting via railway to Turkey

Published

on

(Last Updated On: April 22, 2024)

The Ministry of Interior says that Afghanistan has started exporting goods to Turkey via the Herat-Khaf railway line.

In a post on X, the ministry said: “Afghanistan’s exports to Turkey started in a calm atmosphere through the Herat-Khaf railway line.”

The ministry added that one train will run daily for a month and then two trains will run daily.

According to the ministry, the security of Khaf-Herat railway line is provided by the guards of the National Public Protection Agency.

Khaf-Herat railway project not only connects Iran and Afghanistan by rail, but also completes a 2,000-kilometer route along the east-west rail corridor from China, through Uzbekistan, to Afghanistan, to Iran, and on to Turkey and Europe.

As a landlocked country, this railway network will provide a safe route to connect with Europe via Iran’s railway network and Iran’s southern ports.

This railway line is strategic for trade between Iran and Afghanistan and will allow six million tons of goods to be sent between the two countries.

Continue Reading

Business

Afghanistan, Kazakhstan to hold joint expo in Kabul

Published

on

(Last Updated On: April 21, 2024)

A joint expo between Afghanistan and Kazakhstan will be held in Kabul in the next four days, officials said on Sunday.

Officials of the Ministry of Industry and Commerce said that the two-day expo will be held for the purpose of expanding and strengthening trade relations between the two countries.

“This expo will be held as a follow-up of the Kazakh-Afghan international expo, which was held in the city of Astana, Kazakhstan, with the participation of a large delegation of the government and the private sector of the Islamic Emirate of Afghanistan,” Abdulsalam Javad Akhundzadeh, the spokesman of the Ministry of Industry and Commerce, said.
“At this expo, domestic products from different sectors of Afghanistan and the Republic of Kazakhstan will be put on display for two days.”

According to officials, 40 large Kazakh companies, and 40 large Afghan companies will exhibit their products.

Mohammad Saber Latifi, head of the Afghanistan International Expo Center, said that fruits, minerals and commercial services will be displayed at the expo.

During the expo, various memorandums of understanding for the trade of goods are also expected to be signed by companies.

Continue Reading

Trending

Copyright © 2022 Ariana News. All rights reserved!