Business
Concerns Rise over Chabahar Port as U.S. to Re-impose Sanctions on Iran
The Afghanistan Chamber of Commerce and Industries (ACCI) says the United States sanctions on Iran will have negative impacts on Chabahar – a new transportation corridor for land-locked Afghanistan.
The Indian-backed Chabahar port in Iran is being developed that could potentially open the way for millions of dollars in trade and cut Afghanistan’s dependence on Pakistan.
Building Afghanistan’s economy would also slash Kabul’s dependence on foreign aid and put a major dent in the illicit opium trade, the Taliban’s main revenue source.
But Trump’s decision to re-impose sanctions on Iran and penalise financial institutions for doing business with Tehran is clouding Chabahar’s viability as banks, nervous they could be hit with crippling penalties, pull back from financing.
“We have been in talks with Iran and India so that we could increase exports through this [corridor], but the sanctions may leave unpleasant impacts,” said Khanjan Alokozai, the acting head of ACCI.
Some economic analysts also stressed tensions between great powers in the region will have negative outcomes on Afghanistan economy.
The Ministry of Commerce and Industries’ spokesman Musafer Qaqandi, however, said that the government has opened air corridors for exporting commercial products to global markets, adding that they are preserving national interests in every step taking forward.
The join Iran-India-Afghanistan Chabahar project was launched in 2016. But the port is yet to see significant traffic apart from some containers of donated wheat from India, and the first shipments of Afghan dried fruit to India last year.
With Inputs from Reuters
Business
Commerce ministry inks 10 MoUs to boost development of small and medium-sized businesses
The Ministry of Commerce and Industry said Thursday it has signed cooperation agreements with ten institutions to support the development of small and medium-sized enterprises.
Nooruddin Azizi, Acting Minister of Commerce and Industry, said: “In the implementation of projects, we must pay special attention to our activities and actions and try to make useful use of the projects according to the requirements and benefit the beneficiaries.”
These ten institutions are to present their projects, the total value of which is around over $1.1 million. The projects will be carried out in Kabul, Baghlan, Ghor, Herat, Logar, Nangarhar, Balkh, Badakhshan and Jawzjan provinces and provide direct jobs for about 1,000.
To date, the ministry has signed MoUs for 72 projects in total, collectively valued at about $53.6 million.
These agreements have been signed with domestic and foreign companies for the establishment of small and medium-sized businesses.
In accordance with the principles and laws of the Islamic Emirate and prioritizing the implementation of projects for immigrants and returnees and internally displaced people, the ministry said 635,865 people will benefit through jobs directly and over 4.3 million will benefit indirectly in 25 provinces once these projects are implemented.
Business
Export volume totals over $140 million in last month of 1402
The National Statistics and Information Authority (NSIA) confirmed Tuesday that in the last month of solar year 1402, (March 2024) Afghanistan’s exports totaled $141.1 million and imports totaled $789.6 million.
This was down from $174 million for exports in the same period in 1401. However, imports increased by $99.2 million in 1402, up from $690.4 million.
Most exports in the last month of 1402 went to Pakistan, India and the United Arab Emirates, while in the last month of 1401 exports went to Pakistan, India and China.
Business
Afghanistan-Kazakhstan chamber of commerce opens in Herat
The Ministry of Interior said the governor of Herat province Islam Jar met with Alim Khan Yasin Gildaye, Ambassador of Kazakhstan to Afghanistan, to discuss various issues around trade.
According to the ministry, the two sides discussed the expansion of trade facilities, increasing the volume of trade exchanges between traders of the two countries, reducing customs tariffs, solving the challenges of traders and issuing visas to them.
The Afghanistan-Kazakhstan Chamber of Commerce has been opened in Herat in order to facilitate and increase trade between the two countries.
-
Sport4 days ago
ACL fever grows as fixtures finalized
-
World4 days ago
US will not take part in any Israeli retaliatory action against Iran
-
Latest News4 days ago
Over 50 people dead in traffic accidents over Eid
-
Latest News4 days ago
US identifies Kabul airport suicide bomber
-
Business4 days ago
Afghanistan-Kazakhstan chamber of commerce opens in Herat
-
Latest News4 days ago
Good rains enable DABS to increase power production in Kabul
-
World3 days ago
Israeli military vows response to Iran attack as calls for restraint mount
-
Latest News3 days ago
Pakistani police give Afghans in Balochistan one day to leave