Connect with us

Business

Kabul, Tehran review cooperation, agree to draw up new strategy

Published

 on

(Last Updated On: September 16, 2020)

Iran and Afghanistan have agreed to draw up a comprehensive strategic economic document on bilateral cooperation, the head of Iran’s Customs Administration (IRICA) said.

According to Mehdi Mirashrafi, IRICA chief, “facilitating trade, exchanging customs information, solving border problems and developing transit are on the agenda of Iran and Afghanistan.” 

Speaking to journalists after a video conference with Afghan officials, Mirashrafi said: “The two sides decided to prepare a comprehensive strategic economic document, considering the determinations of the two countries for strategic cooperation.”

Tehran Times reported that on the activation of the Iran-Afghanistan-Uzbekistan Tripartite Transit Corridor and the Kyrgyzstan-Tajikistan-Afghanistan-Iran (KTAI) Quadripartite Corridor, Mirashrafi said: “This trend shows the serious determination of the Iranian Customs to facilitate transit through Afghanistan and connect Central Asian countries to international waters through the Persian Gulf and the Gulf of Oman.”

He also said Chabahar Port was one of the major issues discussed in the meeting.

“The port of Chabahar is an important and vital port for Afghanistan in the field of transit of goods through Iran, and accordingly, the Afghan side has demanded reducing visa fees and transit fees and reconsidering the penalties for customs violations in the transit route through Iran.”

The Chabahar seaport has been a vital development in Afghanistan’s efforts to increase connectivity with the region for trade purposes. 

The port is partly intended to provide an alternative for trade between India and Afghanistan as it is 800 kilometers closer to the border of Afghanistan than Pakistan’s Karachi port.

Business

Central bank seizes over $12 million from former govt officials

Published

on

(Last Updated On: September 16, 2021)

Afghanistan’s central bank said it had seized nearly $12.4 million in cash and gold from former high-ranking government officials, including former vice president Amrullah Saleh.

In a statement, the central bank said the money and gold had been kept in the houses of officials, although it did not yet know for what purpose.

Saleh’s whereabouts meanwhile are unknown.

In a separate statement, the bank urged Afghans to use the country’s local Afghani currency.

This comes amid growing concerns that the country’s banks and firms are running short of money, especially dollars, which are widely used.

In a sign that the Islamic Emirate are looking to recoup assets belonging to former government officials, the central bank issued a circular to local banks last week asking them to freeze the accounts of politically exposed individuals linked to the previous government.

But on Wednesday, reports emerged that Afghanistan’s banks are running out of dollars, and may have to close their doors to customers unless the government releases funds soon.

Three people with direct knowledge of the matter told Reuters that the cash squeeze threatens to upend the country’s already battered economy, largely dependent on hundreds of millions of dollars shipped by the United States to the central bank in Kabul that make their way to Afghans through banks.

Although the cash crunch has lasted weeks, the country’s banks have in recent days repeatedly underlined their concerns to the new government and central bank, two of the people said.

Banks have already pared back services and imposed weekly $200 payout limits, with long queues outside branches as people try to get hold of dollars.

But in a statement on its website on Wednesday, the central bank’s acting governor said banks were stable.

“The banks are completely secure,” he said, adding that commercial banks usually kept 10% of their capital as cash and that those in Afghanistan, on average, held 50% as cash.

Continue Reading

Business

Efforts underway to reopen Torkham and Spin Boldak border crossings

Published

on

(Last Updated On: September 15, 2021)

The Islamic Emirate of Afghanistan’s Acting Foreign Minister Mawlavi Amir Khan Mottaqi met with Pakistani Ambassador to Kabul Mansoor Ahmad Khan on Tuesday to discuss challenges at the country’s border crossings.

Suhail Shaheen, the spokesman for the Islamic Emirate’s political office in Doha, said the meeting focused on the people’s challenges at the Torkham and Spin Boldak crossings.

According to Shaheen, Pakistan’s ambassador to Afghanistan has assured the Islamic Emirate that the crossings will soon be reopened to Afghans and all challenges will be resolved.

Pakistan closed the Torkham crossing to Afghan travelers, and traffic continued intermittently through Spin Boldak after the Islamic Emirate’s takeover of Afghanistan last month.

Thousands of Afghans are however currently waiting to cross into Pakistan at these crossings.

Continue Reading

Business

China’s Jiangxi Copper to develop Mes Aynak when situation allows

Published

on

(Last Updated On: September 14, 2021)

Members of the Islamic Emirate were seen on Monday touring the Mes Aynak copper mine, which two Chinese companies had been developing.

China’s Jiangxi Copper Co Ltd said that it and the Metallurgical Corp of China (MCC) were monitoring the situation in Afghanistan and would push forward with the development of the Mes Aynak copper mine when they could.

Logar governor, Mohammad Ali Jan said that “now that the Islamic Emirate is ruling, this is our only and first visit to here, after this the Islamic Emirate and the company’s technical people will work on it together. As we know from history, this is a huge mine in Afghanistan and it is the nation’s great wealth.”

Construction of the mine until now has not been substantial due to the unstable situation in Afghanistan, said Zheng Gaoqing, the chairman of Jiangxi Copper, at an online briefing.

Jiangxi Copper and MCC took on a 30-year lease for the mine in 2008, which has an estimated reserve of 11.08 million tonnes of copper. Jiangxi Copper holds a 25% stake in the project.

Mes Aynak, about 40 km southeast of Kabul, is also the site of ancient Buddhist ruins.

Continue Reading

Trending

Copyright © 2021 Ariana News. All rights reserved!