Business
IEA sets up investment consortium with firms from Russia, Iran
The Islamic Emirate of Afghanistan's (IEA) administration has set up a consortium of companies, including some in Russia, Iran and Pakistan, to create an investment plan focusing on power, mining and infrastructure, the commerce minister said on Wednesday.
The consortium included 14 Afghan businessmen and foreign companies who would send delegates to Kabul to look into projects worth up to $1 billion, commerce minister Nooruddin Azizi told Reuters.
Afghanistan's economy has been severely hampered since the IEA took over in 2021, sparking the international community to cut most development funding and enforce sanctions on the banking sector.
A series of attacks waged by Daesh has also left some investors worried.
Azizi said the administration was focused on launching several long term business plans including the consortium and special economic zones, and that it was working on ensuring security.
"Lots of discussions on security have taken place in cabinet meetings also, commissions have been established and ... the hiding places (of militants) have been destroyed," he said.
"The Islamic Emirate will ensure security and will support the private sector in the security field," he said.
As well as mining and power projects, he said the consortium was eyeing the possibility of building a second tunnel through the Salang pass that connects Afghanistan's north to the rest of the country, and a project to divert water from northern Panjshir province to the capital as well as re-building the main highway connecting Kabul to western Herat province.
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.
Business
China resumes direct rail trade with Afghanistan
China resumed its direct freight rail services to Afghanistan on Thursday when a train loaded with goods left Nantong city in Jiangsu province.
The train, carrying commercial goods in 55 wagons, is heading for the northern Hairatan border in Balkh province, Yue Xiaoyong, China’s Ministry of Foreign Affairs' Special Representative for Afghanistan, said in a post on X.
Nantong is a central hub of the Belt and Road Initiative and is located north of Shanghai.
The resumption of the rail line was marked at a formal ceremony on Thursday with Yue and Bilal Karimi, the Afghan Ambassador to China, in attendance.
This comes after China recently announced plans to lift customs tariffs on Afghan exports to China by the end of this year, further strengthening trade ties between the two nations.
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