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Afghan traders still unable to make foreign payments despite new license

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Members of the Afghan private sector said on Monday that investors and traders are still not able to transfer money to other countries, despite the US having issued a new license for commercial transactions last week.

The US Treasury issued a new general license last week allowing international aid organizations and private firms to conduct commercial and financial transactions with Afghan government institutions.

The new license represents a shift in US policy that had impeded ordinary commerce with Afghan government agencies headed by US sanctioned Islamic Emirate of Afghanistan (IEA) and Haqqani Network leaders since they came into power in August, Reuters reported.

The Afghan traders said that they are not able to synchronize Afghanistan’s commercial ties with the markets in the world.

“We still have problems. I bought material worth US$60,000 in the US, but I can’t transfer the money. The US should stop being cruel to Afghans,” said Sherbaz Kaminzada, head of Afghanistan Chamber of Industries and Mines (ACIM).

Afghanistan Chamber of Commerce & Investment (ACCI) officials meanwhile said that Afghan traders are facing enormous problems and that the central bank, Da Afghanistan Bank, needs to find a way to resolve these issues.

“Our expectation from the central banks is to solve the private sector’s problems, in order to prevent a crisis in the market,” said Khan Jan Alokozay, a member of the ACCI.

Da Afghanistan Bank officials said that they have accelerated efforts to solve the problems.

“Efforts underway to solve the problem and provide banking services for the private sector,” said Mohammad Sabir Mohmand, spokesman for Da Afghanistan Bank.

Economic analysts also called on Da Afghanistan Bank to solve the private sectors’ problems.

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Mullah Baradar meets with Afghan investors and traders living in Uzbekistan

Baradar assured Afghan investors and businesspeople residing in Uzbekistan that their capital, wealth, and business activities are secure in Afghanistan.

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Afghanistan’s Deputy Prime Minister Mullah Abdul Ghani Baradar met with Afghan businessmen living in Uzbekistan on Friday where he urged them to return home and invest in the country.

Addressing business owners at the Afghanistan Embassy in Tashkent, Baradar stated that Afghanistan has been freed from occupation and, after decades, is now enjoying an unprecedented level of nationwide security.

He added that significant steps have been taken to develop the country’s economic growth, major infrastructure projects have been initiated, road reconstruction is progressing rapidly, domestic production and exports have increased, and there has been a relative improvement in the trade balance.

“The investment and trade system has been cleansed of corruption and bureaucracy, and opportunities for investment in various sectors have been provided to both domestic and foreign investors,” he said.

Baradar stated that over the past twenty years, Afghans, especially wealthy individuals, had no security or dignity but under the rule of the Islamic Emirate, the assets and dignity of businesspeople and investors are now safeguarded, allowing them to operate in a secure environment.

He emphasized that investment in sectors such as energy, mining, agriculture, transportation, infrastructure, telecommunications, technology, and healthcare, among many others, is essential for the country’s economic growth and development.

He urged Afghan investors to prioritize these sectors for investment.

The Deputy PM further stated that the Islamic Emirate gives its full support to the private sector, the facilitation of investment opportunities for returning industrialists, businesspeople, and both domestic and foreign investors, as well as the advancement of domestic industries.

He emphasized that the goal is to transform Afghanistan into a regional economic and trade hub and to further expand economic and commercial relations with all countries.

Addressing the investors and traders, Baradar said: “You are the pillars of our country’s economic development. Your investments, experience, and suggestions are valuable to us. Your investments and business activities bring economic benefits to all of Afghanistan.

“We want to create even more investment opportunities for you so that you can utilize your expertise and capital to develop industrial production, agriculture, transit, and other economic sectors.

“The Islamic Emirate is committed to supporting the private sector. For this purpose, it has simplified trade and investment processes, organized the tax system, and is fully committed to protecting all the rights of businesspeople.”

In conclusion, Baradar assured Afghan investors and businesspeople residing in Uzbekistan that their capital, wealth, and business activities are secure in Afghanistan and that the Islamic Emirate will provide all necessary cooperation whenever needed.

He urged all investors and traders to transfer their industries and capital to Afghanistan to contribute to the country’s progress and fulfill their responsibility in national development.

Afghan investors and traders residing in Uzbekistan expressed their support for the expansion of political and economic relations between Afghanistan and Uzbekistan.

Each investor indicated their willingness to invest between $10 million and $100 million in Afghanistan.

They also shared their challenges in various sectors with the Deputy PM and he assured them of solutions.

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Afghanistan transports 3.2 million metric tons via railways this year: Ministry

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Mohammad Ashraf Haqshenas, spokesperson for the Ministry of Public Works, says since the beginning of this current solar year, about 3.2 million metric tons of commercial goods have been transported through the country’s railway lines.

Haqshenas stated that these exports have seen a significant increase compared to the same period last year, and the ministry is working to provide more facilities for the private sector in this area.

“Approximately 3.2 million metric tons of goods have been transported through four ports. The Ministry of Public Works is striving to provide greater convenience to national traders and citizens,” he said.

Meanwhile, officials from the Chamber of Commerce and Investment have stated that railway lines can play a vital role in the country’s economic development.

They added that in international trade, rail transport is cheaper than shipping, and this sector should be given serious attention in the country.

Economic experts also believe that the expansion of railways in the country can provide more convenience for traders in exports and imports.

Currently, Afghanistan has direct railway connections through four ports with Uzbekistan, Iran, and Turkmenistan, and indirect connections with China, Russia, Belarus, Kazakhstan, and Turkey.

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IEA signs $6.2 million marble mining contract for Kandahar

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Afghanistan’s Ministry of Mines and Petroleum says it has signed a contract worth $6.2 million with a Turkish company for the extraction of marble from a mine in Kandahar’s Dara-e-Noor area.

At a ceremony on Tuesday in Kabul, acting Minister of Mines and Petroleum Hidayatullah Badri said the extraction of this mine is expected to create new job opportunities for the country’s citizens.

Badri stated that since the Islamic Emirate’s takeover, several contracts have been signed for marble extraction.

“The contracted company is investing $6.2 million in the exploration, extraction, and processing of this mine,” Badri added.

Meanwhile, a senior official from the mining company stated that this contract will benefit both countries.

He said the company hopes to supply the international market with the marble. He said this will not only create jobs but also contribute to the growth of Afghanistan’s export market.

Mr Emioglu, the deputy head of the Turkish contracting company, said: “Our company started working on extracting this mine eight months ago. We aim to introduce Afghan marble internationally after production and processing so that both countries can benefit.”

Economists welcomed the development and stated that with the signing of mining contracts, the country’s economic situation will improve, and investments in this sector will increase.

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