Business
ADB suspends TAPI project until IEA gains international recognition
The Asian Development Bank (ADB) has confirmed that work on the trans-nations Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project has been suspended until the Islamic Emirate of Afghanistan (IEA) government has gained international recognition.
In response to an email sent to the ADB by Ariana News, an official confirmed that the project has been put on hold.
He said the ADB “has paused all its TAPI project due diligence and processing activities until further notice.”
According to the ADB, while the international community continues to assess the evolving situation in Afghanistan, the bank has decided to hold off on its assistance in Afghanistan. The official said the ADB however continues to consult with its shareholders and other stakeholders to monitor the situation in Afghanistan.
The $10 billion TAPI project to transport Turkmen natural gas through Afghanistan to Pakistan and India is one of the largest economic projects to date in the region.
"Some time ago, the Pakistani Minister of Economy said that we have a security problem and we cannot complete this project, and they have a problem with the fact that they want to eliminate India, but India will not be eliminated by Turkmenistan, which in fact is India's last TAPI station, " said Sayed Massoud an economic analyst.
IEA officials meanwhile said about two weeks ago that they had met with the TAPI project chief executive and the Turkmen ambassador to Kabul to discuss the project.
“The TAPI project is so important that it will change not only Afghanistan but also the region's economy, and its first implication for Afghanistan is that it gives Afghanistan an international value.
“Second, common economic provisions create security and increase economic cooperation,” said Shirbaz Kaminzada, the President of the Afghanistan Chamber of Industries and Mines.
The TAPI project stretches for about 1,800 km and will transport about 33 billion cubic meters of Turkmen natural gas annually through Afghanistan to Pakistan and India.
Business
Afghanistan-India trade volume totals $650 million so far this year
Trade between Afghanistan and India totals $650 million in the first 10 months of this year, the Islamic Emirate’s Ministry of Industry and Commerce announced this weekend.
In a post on X on Saturday, the ministry’s spokesman Abdulsalam Jawad Akhundzada said $477 million in exports and $203 million in imports were recorded this year.
He said Afghanistan’s main exports to India included dried figs, raisins, saffron, green cumin, and almonds.
According to Akhundzada, the main items imported from India over the past 10 months were sugar, raw materials for industrial factories, new clothing, and roasted chickpeas.
Just last week, JP Singh, Indian foreign ministry’s joint secretary for the Pakistan-Afghanistan-Iran division, visited Kabul and met with Acting Foreign Minister Amir Khan Muttaqi.
The two sides discussed political and economic relations between Afghanistan and India, and people's movements, the Afghan foreign ministry said in a statement.
Muttaqi expressed hope that relations between India and Afghanistan would expand in various fields. He stressed that to develop trade relations, Indian visa facilities should be increased for Afghan citizens, especially businesspersons.
According to the statement, JP Singh said that relations with Afghanistan are important for India and have an ancient history.
The Indian diplomat said that along with humanitarian aid to Afghans, India has also started development assistance to Afghanistan and is engaged in technical discussions with relevant Afghan institutions.
JP Singh stressed that in the near future, negotiations will be held between technical delegations of regional countries including Afghanistan and India on the Chabahar port.
He also promised to increase Indian visa facilities for Afghans.
Business
Iran’s non-oil exports to Afghanistan rise by 31% this solar year
Iran’s imports from Afghanistan also rose sharply, totalling over $33 million, a 192% increase in this period
Iran's non-oil exports to Afghanistan surged by 31% in the first half of this solar year (April to September 2024), totalling over $1.77 billion.
According to Iran’s trade association in Afghanistan, both the value and volume of non-oil exports to Afghanistan saw substantial growth.
Statistics provided by the association indicate that nearly 560,000 tons of Iranian goods, including iron, steel, cement, eggs, and potatoes, were exported to Afghanistan during this period.
Iran’s imports from Afghanistan also rose sharply, totalling over $33 million, a 192% increase in this period.
The primary exports to Iran included barley, corn, peanuts, and chilies.
Business
Private sectors of Afghanistan, Kazakhstan sign contracts worth $100 million
Private sectors of Afghanistan and Kazakhstan have signed contracts worth $100 million during the visit of an Afghan delegation to Almaty recently, the Islamic Emirate of Afghanistan (IEA) announced on Thursday.
The agreements include the export of more than 2,000 tons of dried fruit, the export of fresh fruit, including pomegranates, and the export of cotton, Zabihullah Mujahid, a spokesman for the Islamic Emirate, said on X.
Mujahid said that the Islamic Emirate delegation during its recent visit to Kazakhstan signed a "road map of cooperation between Afghanistan and Kazakhstan in the fields of trade, industry, mining, energy, logistics, agriculture, telecommunications, health, higher education and humanitarian aid.”
He said Kazakhstan also assured that it would provide more facilities for the transit of Afghan goods to China and other countries through Kazakhstan.
The allocation of an area "as a logistics center for Afghan goods" in the port of Khargos was also part of the agreement between the two sides to facilitate the unloading and loading of Afghan traders' goods.
The spokesman of the Islamic Emirate also said that Kazakhstan will participate in the construction of the Torghundi-Herat, Kandahar-Spin Boldak and Mazar-e-Sharif-Kharlachi railway projects.
Mujahid added that Kazakhstan will also participate in the establishment of a trade and transit center in Herat province, which will be used to store and finance trade and transit goods. Meanwhile, Kazakhstan has agreed to establish permanent expo centers for the sale of Afghan goods in various cities of Kazakhstan.
It is worth mentioning that the delegation of the Islamic Emirate led by Nooruddin Azizi, Acting Minister of Industry and Commerce, participated in the three-day exhibition of Afghanistan's domestic products, which was launched on October 21 in Almaty.
The Ministry of Industry and Commerce recently announced that 23 tons of pomegranates from Kandahar province were exported to Almaty through the port of Torghundi.
-
Sport4 days ago
Gurbaz ton guides Afghanistan to seal ODI series over Bangladesh
-
World5 days ago
Trump, Putin speak as Biden plans to lobby Trump to stick with Ukraine
-
Latest News4 days ago
Afghanistan’s de facto consulate in Mumbai starts issuing passports
-
World2 days ago
Biden is sending aid to help Ukraine keep fighting next year, Blinken says
-
Regional4 days ago
Netanyahu claims he and Trump see ‘eye to eye’ on Iran after holding 3 calls within days
-
Saar4 days ago
Saar: Obstacles and opportunities for IEA’s recognition
-
Tahawol2 days ago
Tahawol: NATO’s concern over proximity of Russia & North Korea discussed
-
Latest News2 days ago
IEA committed to freedom of media within Islamic principles: Mujahid