Business
Da Afghanistan Bank sees increase in gross reserves

The gross domestic product (GDP) of the central bank of Afghanistan, Da Afghanistan Bank, has reached more than $9 billion for the first time.
Officials at the bank said that although the global aid to Afghanistan has declined, they have succeeded to increase the bank’s reserves.
Economists also underline that the central bank’s efforts will lure global funds.
The bank’s authority has stated that they have, for the first time, been able to increase the GDP to over $9 billion.
According to them, last year about AFN22 billion was deposited in the government reserves through investments in foreign financial institutions.
Although the Coronavirus pandemic has devalued Afghan currency against the dollar, the authority is pushing for effective programs to keep the value of the currency afloat, they said.
Welcoming the strengthening of the gross reserves of DAB, experts say that the central bank’s efforts would attract global funds for good.
Business
Efforts underway to expand Afghanistan’s trade relations with India
A number of investors also suggest that the Islamic Emirate should actively participate in regional and trade fairs to increase exports, so that Afghan products can be marketed in regional and global markets.

The Ministry of Industry and Commerce says that efforts are underway to expand trade relations with India, the volume of which reaches $650 million annually.
Abdulsalam Jawad Akhundzada, a spokesman for the Ministry of Industry and Commerce, says that India is also interested in expanding trade relations with Afghanistan, and Kabul has also taken steps in this regard by using Chabahar Port, and talks have been held with the Indian side on visas.
The Chamber of Commerce and Investment also says that trade relations between Afghanistan and India are expanding and these relations are strengthening with each passing day. According to officials of the chamber, Afghanistan has exported goods worth $500 million to India in the past year.
A number of investors also suggest that the Islamic Emirate should actively participate in regional and trade fairs to increase exports, so that Afghan products can be marketed in regional and global markets.
According to investors, once the visa issues with India are resolved, a large portion of the country’s fresh and dried fruits will be exported to India because India is a good market for Afghan fruits in the region.
Investors want the Islamic Emirate to pave the way for increased exports to India through Chabahar Port.
Business
36 mining contracts inked over the past year: Mines ministry

The Ministry of Mines and Petroleum says it has signed 36 large and small mining contracts, with a total value of $1.3 billion over the past year.
Officials from the ministry stated that these contracts include 10 large mines, 25 small mines, as well as projects related to cement, salt, marble, and a major gas extraction contract with Uzbekistan, all signed with both domestic and foreign companies.
Meanwhile, economic experts have emphasized the importance of increasing investments in the mining sector for the country’s economic growth. They have stressed that priority in mining contracts should be given to domestic companies.
“It is better to prioritize domestic investors over foreign ones,” said Kamaluddin Kakar, an economic expert.
In the meantime, members of the private sector also stated that if both foreign companies and Afghan investors can partner in the mining sector, this will not only foster investment development in the country but also bring positive changes in capacity building within the mining extraction sector.
Business
Afghanistan ships first consignment to Europe via Khaf-Herat railway

The press office of the Herat governor has announced the export of Afghanistan’s first shipment via the Khaf-Herat railway to Europe.
According to a statement from the office, the shipment includes 200 tons of dried fruits worth $1.2 million, which were exported to Turkey and Europe through the Khaf-Herat railway in the presence of Islam Jar, the governor of this province, and the Iranian Consul General.
The exported dried fruits in this shipment include pistachios, raisins, almonds, and pine nuts.
The statement added that over the past three months, more than 35,000 tons of goods have been transferred via the Khaf-Herat railway.
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