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Uzbekistan Vows to Discount $45M for Power Transmission Project in Afghanistan

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(Last Updated On: July 1, 2019)

The Prime Minister of Uzbekistan has promised to provide a discount of $45 million for a power transmission project in Afghanistan, the Office of Chief Executive said in a statement.

Afghanistan’s Chief Executive Abdullah Abdullah on Monday met with the Prime Minister of Uzbekistan Abdulla Aripov in the northern province of Balkh where they inaugurated an exhibition of Uzbekistani products.

At the event, Abdullah thanked his Uzbek counterpart for their interest in trade and investment in Afghanistan.

He said the two countries had signed agreements and memorandum of understandings and now it is the time to cooperate and take practical steps in implementing them.

Abdullah further said that the trade volume between the two countries is good but added that the capacities are available for a high volume of trade.

He hoped that the two countries further enhance their economic cooperation.

“The government of Afghanistan is expecting to balance the level of import and export between the two countries. We are committed to creating more opportunities for Uzbek investors and we are expecting Uzbekistan to pave the ground for our investors as well,” Abdullah said.

On his turn, the Uzbek Prime Minister said that his country is interested to increase the economic relations between the two countries.

Aripov said that Uzbekistan is ready to facilitate and closely cooperate with Afghanistan in different sectors, including agriculture, trade, electricity, railway, and gas.

The Uzbek official added that the transmission of power line from Sarkhan area in Uzbekistan to Pul-e-Khomri city in Afghanistan which is almost 200 kilometers in length and it costs $110 million but his country is ready to provide a discount of $45 million for Afghanistan.

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No relief yet for Pakistan as FATF keeps it on global grey list

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(Last Updated On: October 24, 2020)

The Financial Action Task Force (FATF) on Friday announced it would keep Pakistan on the grey list until at least February next year.

Speaking at a virtual press conference in Paris on Friday the anti-money laundering/terror financing watchdog’s president Marcus Pleyer said there were still conditions Pakistan needs to comply with before they can be removed from the grey list. 

“Pakistan must comply with the remaining six items, then the FATF will send its onsite team to verify progress on the ground. After completion of this process, the FATF will consider Pakistan to be excluded from the list of jurisdictions with increased risk of terror financing that is called the grey list.”

Pleyer said although Pakistan has made progress in terms of carrying out reforms and implemented measures such as imposing sanctions against those financing terrorism, more still needed to be done. 

The FATF plenary removed Iceland and Magnolia from the grey list. North Korea and Iran will remain on the blacklist.

Meanwhile, Pakistan’s Federal Minister for Industries Hammad Azhar said on Twitter: “FATF acknowledges that any blacklisting is off the table now. Pak has achieved impressive progress on its FATF action plan. 21 out of 27 action items now stand cleared. Remaining 6 rated as partially complete. Within a year, we progressed from 5/27 to 21/27 completed items.”

According to a statement issued by FATF Pakistan’s continued political commitment has led to progress in a number of areas including taking action to identify and sanction illegal MVTS, implementing cross-border currency and controls, improving international cooperation in terrorist financing cases and applying sanctions where necessary, among others.

The statement noted that Pakistan should continue to work on implementing its action plan to address its strategic deficiencies.

One area FATF said Pakistan needs to work on is to demonstrate effective implementation of targeted financial sanctions against all 1,267 and 1,373 designated terrorists and those acting for or on their behalf.

However, the FATF said it “takes note of the significant progress made on a number of action plan items. To date, Pakistan has made progress across all action plan items and has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021.”

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Pakistan parliament to host trade and investment forum for Afghans

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(Last Updated On: October 21, 2020)

Pakistan’s National Assembly will host a Pakistan-Afghanistan trade and economic forum next week to enhance bilateral relations and find ways to overcome transit and trade challenges. 

The two-day seminar in Islamabad will include a 17-member Afghan parliamentary delegation led by the Speaker of the Wolesi Jirga (Lower House of Parliament) and representatives from Afghanistan’s trade and investment community. 

Pakistan’s The News reported delegates attending from Pakistan will include political leaders, academics, investors, and traders.

Prime Minister Imran Khan will address the opening ceremony of the conference on October 26 and a video message from Afghan President Ashraf Ghani will be telecast during the event.

The seminar is being viewed as a positive sign of change and a way to overcome issues faced by traders and investors in both countries and will also open new avenues of political and parliamentary cooperation and coordination between the two countries. 

 

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Joint economic commission planned between Afghanistan and Iran

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(Last Updated On: October 11, 2020)

Afghanistan’s acting Foreign Minister Haneef Atmar said Sunday he held a “valuable” virtual meeting with Iran’s Minister of Energy Reza Ardakanian on a number of issues including that of permanent transmission of electricity to Afghanistan. 

Atmar said they also discussed holding a joint economic commission, opening the Khaf-Herat railway line, setting preferential tariffs on importing electricity, custom tariffs, and expanding trade. 

“We are committed to strengthening relations and expanding cooperation with our friendly and brotherly country Iran,” Atmar tweeted.

Iran’s Mehr news agency said the Iranian energy minister emphasized his country’s support for cooperation with Afghanistan, especially in the field of energy production and transmission.

Last month, a delegation from the Iranian ministry of energy traveled to Afghanistan to strengthen relations and discuss joint ventures in the electricity sector.

Afghanistan currently imports electricity from neighboring Iran, Turkmenistan, Uzbekistan and Tajikistan.

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