Business
Cross-border markets will be up-and-running in February
Pakistan said Monday that one of the 12 Joint Border Trade Markets, that is to be established along the Afghanistan-Pakistan border, will be launched by February 2021.
In a statement released on Monday, the Embassy of Pakistan in Kabul stated that the market would be operational at Shaheedano Dand in Kurram Agency of Pakistan.
“The Joint Border Trade Markets are believed to promote the wellbeing of the people living on both sides of the border, rehabilitate those affected by anti-smuggling drive, economically integrate the neglected areas, formalize bilateral trade and transform local economies of people living across Pak-Afghan border,” Pakistan Embassy in Kabul said in a statement on Monday.
According to the statement, Pakistan has prepared a draft Memorandum of Understanding (MoU) on the establishment of the markets with Afghanistan.
The statement noted that the MoU has covered “all the modalities including the proposed list of items to be traded in these markets and locations where the border markets are to be established, the composition of Border Market Management Committees, which will oversee the smooth working of the markets, the medium of exchange and dispute settlement.”
“Once, formally established, the people friendly initiative of JBTMs of Prime Minister of Pakistan is expected to uplift the economic and social wellbeing of the people living across Pak-Afghan border,” the statement read.
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.
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.
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.
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