Business
Afghan Forces Arrest 13 Individuals on Charges of Smuggling Dollars to Iran
Afghan security forces have arrested 13 individuals in Herat province on charges of smuggling dollars to Iran, officials said.
Following the rapid decline of Afghan currency against USD in the market, officials in Herat said that police have arrested some culprits who were engaged in smuggling US dollars to Iran.
“Serious steps being taken against the smuggle of foreign currencies in Herat province, fortunately, in last two or three months, 13 individuals have been arrested on charges of smuggling dollars to neighboring countries,” said the provincial governor’s Spokesman Jilani Farhad.
According to the estimation of the provincial Money Exchangers’ Union, up to four million USD are smuggled to Iran everyday in Herat province.
Head of the union said that dollars have also been transferred to Iran through legal channels by some individuals in Islam Qala – a border town in Herat province near the border with Iran.
This comes as the selling rate of USD is lingering between 75 to 77 AFN in the past few days in Sarai-Shahzada money exchange market – the largest financial market in Afghanistan.
On Wednesday, the head of Central Bank (Da Afghanistan Bank), Khalil Sediq said that some profiteers are hoarding of foreign currency as Iranian Rial and Pakistani rupees are also losing their values against the USD. He stressed some opportunists are storing USD in hope of selling it at a higher rate.
He also cited the high demand of the USD in Iran and Pakistan as reason behind the soaring USD value in Afghanistan.
Business
Azizi calls on Malaysian investors to invest in Afghanistan
Nooruddin Azizi, Acting Minister of Commerce and Industry, met with representatives from the ministries of foreign affairs, defense and interior of Malaysia, along with other senior officials, on Wednesday and called on Malaysians to invest in Afghanistan.
The visiting delegation is being led by senior diplomat Dr. Shazelina Zainul Abidin.
According to the IEA’s foreign ministry, the two sides discussed bilateral trade, holding a business communication conference to strengthen trade relations between the two countries, the trade balance between Afghanistan and Malaysia, and creating a market for Afghan products, including carpets, cotton, and minerals.
According to the ministry, at the end of the meeting, the Acting Minister emphasized the increase of investment from regional countries in Afghanistan and called on Malaysian investors to also invest in Afghanistan.
Business
Afghanistan starts exporting via railway to Turkey
The Ministry of Interior says that Afghanistan has started exporting goods to Turkey via the Herat-Khaf railway line.
In a post on X, the ministry said: “Afghanistan’s exports to Turkey started in a calm atmosphere through the Herat-Khaf railway line.”
The ministry added that one train will run daily for a month and then two trains will run daily.
According to the ministry, the security of Khaf-Herat railway line is provided by the guards of the National Public Protection Agency.
Khaf-Herat railway project not only connects Iran and Afghanistan by rail, but also completes a 2,000-kilometer route along the east-west rail corridor from China, through Uzbekistan, to Afghanistan, to Iran, and on to Turkey and Europe.
As a landlocked country, this railway network will provide a safe route to connect with Europe via Iran’s railway network and Iran’s southern ports.
This railway line is strategic for trade between Iran and Afghanistan and will allow six million tons of goods to be sent between the two countries.
Business
Afghanistan, Kazakhstan to hold joint expo in Kabul
A joint expo between Afghanistan and Kazakhstan will be held in Kabul in the next four days, officials said on Sunday.
Officials of the Ministry of Industry and Commerce said that the two-day expo will be held for the purpose of expanding and strengthening trade relations between the two countries.
“This expo will be held as a follow-up of the Kazakh-Afghan international expo, which was held in the city of Astana, Kazakhstan, with the participation of a large delegation of the government and the private sector of the Islamic Emirate of Afghanistan,” Abdulsalam Javad Akhundzadeh, the spokesman of the Ministry of Industry and Commerce, said.
“At this expo, domestic products from different sectors of Afghanistan and the Republic of Kazakhstan will be put on display for two days.”
According to officials, 40 large Kazakh companies, and 40 large Afghan companies will exhibit their products.
Mohammad Saber Latifi, head of the Afghanistan International Expo Center, said that fruits, minerals and commercial services will be displayed at the expo.
During the expo, various memorandums of understanding for the trade of goods are also expected to be signed by companies.
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