Business
Turkish companies and traders to invest in Afghanistan: officials
Turkish companies and traders will invest in Afghanistan in the near future, said Zabihullah Mujahid, deputy minister of information and culture and spokesman for the Islamic Emirate of Afghanistan in a tweet.
According to Mujahid, Turkish foreign minister Mevlüt Çavuşoğlu said in a meeting with Afghanistan’s acting foreign minister Amir Khan Muttaqi, in the sidelines of Organization of Islamic Conference (OIC) forum, that Turkish companies and traders are looking at opportunities in the country.
“Turkish foreign minister said that Turkey’s companies and traders will come to Afghanistan,” said Mujahid.
Afghan businessmen said that conditions for investment have been fulfilled.
According to them Turkish investors have held talks with Afghan official about investment.
“Turkey (Turkish people) were seen in Afghanistan. They met with chamber of industries and mine, and the private sector. Optimism is high that Turkey will invest in Afghanistan,” said Sakhi Ahmad Paiman, deputy head of the Chamber of Industries and Mines.
Analysts say that economic development can bring an end to the current economic crisis.
The analysts also blamed the international community for the current crisis in the country.
“Islamic Emirate has taken serious steps… first in security, second in transparency and third removing financial bureaucracy. These important factors can provide opportunity for investment,” said Tajuddin Talish, an economic analyst.
This comes as China’s embassy in Afghanistan warned its companies and citizens on Friday not to “blindly” visit the country to inspect mineral resources, after reports of foreigners being detained without exploration permits, Reuters reported.
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.
The Ministry of Industry and Commerce (MoIC) says Afghanistan has reached self-sufficiency in 45 sectors and the production of 133 items, and that the ministry is striving to change Afghanistan from an importing country to an exporting one.
The ministry officials said that for this purpose, supporting domestic products and attracting investment is essential.
The ministry’s spokesman Abdul Salam Jawad Akhundzada emphasized increasing the use of domestic goods and products in government and national projects and added that efforts have also begun to find a market for domestic products inside and outside the country.
“We have reached self-sufficiency in 133 items of production, which is 45 sectors, and also we reached the capacity of semi-self-sufficiency in 95 items of production, which is 27 sectors,” he said.
Meanwhile, the Chamber of Industries and Mines (ACIM) says over the past two and a half years, more attention has been paid to the development of domestic production and it is also expanding.
The chamber officials stressed expanding the culture of using domestic products in government projects.
“I think that the government is one of the biggest consumers in the market if it uses domestic products in all its development projects,” said Abdul Nasir Rashtia, a member of ACIM.
Economic experts also said that if the use of domestic products in government projects increases, Afghanistan will quickly move towards economic independence.
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