Business
Over 410,000 Chinese netizens sign letter urging US to return Afghan assets
More than 410,000 Chinese netizens have signed a joint letter by China’s Global Times newspaper urging the United States to return assets in full to Afghans immediately and unconditionally.
This comes after US President Joe Biden moved to divert $7 billion in frozen Afghan assets for humanitarian assistance and to the families of 9/11 victims.
China has repeatedly slammed US over its actions on the Afghan assets.
“Returning other people’s money in full is not a virtue of generosity, but a matter of course. Paying back half and deducting half of other people’s money is not gifting, but stealing,” China’s UN envoy, Zhang Jun, said at a UN Security Council on Wednesday.
“This is the simplest truth. What the US did is neither legal nor reasonable nor humane,” Zhang said, calling on the relevant countries to immediately and unconditionally return these assets to Afghans in full.
The diplomat said that the US’ act is a breach of Afghanistan’s national sovereignty and property, and is a serious contravention of international law.
Afghanistan is at a crucial stage of reconstruction, which is working hard to improve its political structure, restore order in production and life, and actively conduct foreign exchanges and cooperation, Zhang said.
The international community should actively inject liquidity into Afghanistan, help the country restore its domestic market and economic system, reintegrate into regional and international economic cooperation, and embark on the path of peaceful development, Zhang said, adding any economic blockade or unilateral sanctions against Afghanistan should be stopped immediately.
He called on the international community to continue to adhere to the Afghan-led and Afghan-owned principle, enhance engagement with them through an equitable, rational and pragmatic approach.
Afghanistan can gradually achieve lasting peace and stability, eliminate the breeding ground of terrorism, and Afghan women and children achieve better development only in this way, according to Zhang.
Business
Iraqi intelligence report alleges oil smuggling network supplying Afghanistan and Turkey through Iran
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
An Iraqi intelligence report obtained by Sky News Arabia has revealed alleged large-scale crude oil smuggling operations from northern Iraq into Iran, where the oil is reportedly refined and later sold in regional markets, including Afghanistan and Turkey.
According to the report, shipments of crude oil are transported through land routes and unofficial trade channels into Iranian territory, where they undergo refining and processing before being re-exported to foreign markets.
The intelligence findings suggest that the alleged network is designed to bypass international sanctions and facilitate the movement of petroleum products outside official trade and financial monitoring systems.
The report further indicates that smuggling networks rely on informal transportation routes and cross-border commercial channels to maintain the collection, processing and distribution of oil products while avoiding regulatory oversight.
The revelations have raised concerns over cross-border smuggling, the loss of national resources and the potential impact of illicit oil trade on regional economies.
Security and political observers say the reported activities could put additional pressure on Iraqi authorities to strengthen border controls, monitor oil transportation routes and improve coordination with regional and international partners.
However, the allegations outlined in the intelligence report have not been independently verified, and further details about the networks involved, the quantities of oil transported and the scale of supplies reaching Afghanistan and Turkey remain unclear.
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
Business
$30 million pharmaceutical investment launched in Herat as new production line opens
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The foundation stone has been laid for three new pharmaceutical production blocks at Ovison Pharma in Herat, with an investment of $30 million, while the factory’s new serum and injectable production line has also been inaugurated.
The new production blocks will be constructed on a 3,000-square-metre site, with each facility planned to have five floors. Equipped with advanced machinery and designed to meet international standards, the expansion is expected to significantly increase the factory’s pharmaceutical production capacity.
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The expansion marks a significant step toward strengthening Afghanistan’s pharmaceutical industry, increasing domestic production and reducing the country’s reliance on imported medicines.
The investment is also expected to support the development of local manufacturing capacity and improve access to domestically produced pharmaceutical products.
Business
Afghanistan approves new foreign investment policy in bid to attract international investors
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
Afghanistan’s Economic Commission has approved a new foreign investment policy aimed at attracting international investors, improving investment opportunities and supporting the country’s economic growth.
The decision was made during the commission’s regular meeting, chaired by Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, at the Marble Palace on Monday.
According to the Deputy Prime Minister’s Office for Economic Affairs, the proposed policy was presented by a committee established under the leadership of the economic deputy office. Following a comprehensive review and consideration of the commission’s recommendations, the policy was approved.
The policy aims to regulate foreign investment activities, facilitate investment procedures, create a favourable environment for investors, ensure investment security and promote Afghanistan’s economic growth and development.
During the meeting, the commission also approved a proposal concerning the payment of fixed taxes by commercial import companies at the country’s customs offices.
Officials said implementing the proposal would create additional facilities and simplify procedures for importing businesses.
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
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