Business
Afghan traders still unable to make foreign payments despite new license
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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Afghanistan, Uzbekistan discuss expanding economic, trade and investment cooperation
For his part, Khojayev said Uzbekistan is prepared to invest in Afghanistan’s mining sector and increase imports of Afghan meat and cotton.
Afghanistan’s Deputy Prime Minister for Economic Affairs, Mullah Abdul Ghani Baradar, met on Sunday with Uzbekistan’s Deputy Prime Minister, Jamshid Khojayev, and his accompanying delegation at the Chahar Chinar Palace in the Arg to discuss expanding bilateral economic cooperation.
The two sides held talks on strengthening economic, trade, investment, and transit cooperation between Afghanistan and Uzbekistan.
Baradar said stronger and more stable relations between Kabul and Tashkent would not only serve the economic interests of both countries but also contribute to regional stability. He added that the Islamic Emirate is ready to use all available capacities to further strengthen and expand bilateral ties.
He emphasized the effective implementation of the joint action plan between the two countries, describing it as an important step toward boosting economic growth.
Baradar also identified several priority areas for cooperation, including removing obstacles to the movement of Afghan export vehicles to Uzbekistan, granting exemptions for Afghan transit goods arriving from China, Central Asia, and Russia, facilitating exports of Afghanistan’s agricultural products, fresh and dried fruits, food products, and valuable minerals to the markets of Central Asia, Russia, and China, increasing the capacity of transit infrastructure, expanding customs facilities, easing the issuance of visas for Afghan citizens, and enhancing cooperation in the energy sector and joint infrastructure projects.
He said broader cooperation between Afghanistan and Uzbekistan would not only elevate bilateral economic relations but could also serve as a model of good neighborly relations for other countries in the region.
For his part, Khojayev said Uzbekistan is prepared to invest in Afghanistan’s mining sector and increase imports of Afghan meat and cotton.
He also announced Uzbekistan’s readiness to build a $50 million zinc processing plant in Hairatan.
Khojayev added that the Uzbek delegation would work with relevant institutions of the Islamic Emirate in the areas of transport, energy, agricultural development, banking, trade, economic cooperation, and capacity-building for Afghan citizens.
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