Business
Govt to purchase local products in move to boost domestic market
The Afghan National Procurement Authority (NPA) and the Afghanistan Chamber of Commerce and Industries (ACCI) signed a Memorandum of Understanding (MoU) on Saturday, that will compel government entities to purchase only domestic products where possible.
According to the MoU, which was signed between Ilham Omar Hotak, NPA Chief, and Shirbaz Kaminzada, Chief of the ACCI, all government departments will have to use domestic products from next year (1400 Solar Calendar).
Hotak said at the event that government will in the future have to purchase domestically produced or manufactured products, despite the estimated 25 percent price difference.
Hotak urged the ACCI to guarantee the quality of products, stating “all industrialists should standardize their products.”
“We want to use all alternatives to promote our domestic products in the year 1400 and all government bodies will be bound to use domestic products.”
The ACCI officials, meanwhile, stated they would invest more in the country if the government promised to support local products.
ACCI Chief, Shirbaz Kaminzada stated: “If domestic products are included in government deals we are ready to invest in other sectors as well.”
Business
Belarus ready to boost petroleum trade and investment cooperation with Afghanistan
Officials stressed the importance of expanding trade relations, developing joint investment opportunities and creating practical mechanisms for broader economic cooperation.
Belarus has expressed readiness to expand economic cooperation with Afghanistan, including the transportation and import of petroleum products through direct agreements with Afghan government institutions and private-sector companies.
Afghanistan’s Ministry of Commerce and Industry said on Friday that Deputy Minister Ahmadullah Zahid held talks with Belarusian Deputy Trade Minister Vlad Mirvoyevich Ryzhkovsky and senior officials from Belarus’ oil and investment sectors.
The discussions focused on boosting bilateral trade, expanding Afghanistan’s exports, importing petroleum products from Belarus, attracting investment and strengthening cooperation in the industrial and energy sectors.
The two sides also discussed closer engagement between private-sector businesses and the need to make effective use of the economic potential of both countries.
According to the ministry, officials stressed the importance of expanding trade relations, developing joint investment opportunities and creating practical mechanisms for broader economic cooperation.
The Belarusian delegation assured Afghan officials that it would take the necessary steps to establish direct cooperation and sign agreements with Afghan government institutions and private companies for the transportation and import of petroleum products.
The meeting comes as Afghanistan seeks to diversify its economic and trade partnerships, increase exports and attract greater foreign investment and cooperation from countries in the region and beyond.
Iranian President Masoud Pezeshkian has called for the removal of obstacles to economic cooperation and greater facilitation of trade and transit between Iran and Afghanistan.
At a Cabinet meeting chaired by Pezeshkian on Wednesday, officials reviewed a report on Iran’s agriculture minister’s recent visit to Afghanistan and the latest developments in economic ties between the two countries.
According to the report, Afghan officials welcomed closer relations with Iran and expressed readiness to increase bilateral trade and expand economic cooperation.
The meeting also focused on key challenges facing trade between the two countries, including customs procedures, the movement of vehicles through border crossings and delays in transporting goods.
Pezeshkian stressed the strategic importance of economic ties with Afghanistan and called for stronger cooperation. He instructed relevant authorities to take practical steps to address obstacles to trade and transit and improve the movement of goods across the border.
Business
Afghanistan, Kuwait explore new investment and trade opportunities
The Afghan Embassy in Kuwait said the talks focused on Afghanistan’s security and stability, economic potential and available investment opportunities.
Afghanistan and Kuwait have discussed expanding trade and investment cooperation during a meeting between Afghanistan’s Chargé d’Affaires in Kuwait, Mohammad Shafiq Khatib, and prominent Kuwaiti investor Ajeej Khalaf, along with a number of businessmen and investors.
The Afghan Embassy in Kuwait said the talks focused on Afghanistan’s security and stability, economic potential and available investment opportunities.
The sides stressed the importance of strengthening trade and economic ties and expanding investment cooperation between the two countries.
Khatib invited Kuwaiti businessmen and investors to visit Afghanistan, explore investment opportunities and consider investing in various sectors of the Afghan economy.
The meeting comes as Afghanistan seeks to attract more foreign investment and strengthen economic and commercial ties with regional and international partners.
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