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Chairman of Afghan Business Council in UAE calls for investment in Afghanistan

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(Last Updated On: September 8, 2023)

The head of the Afghan Business Council in the United Arab Emirates (UAE) said that the ground is paved for economic activities and investment in Afghanistan and businessmen should return to the country.

Obaidullah Sadrakhil added that compared to the past four decades, there are better investment opportunities currently in Afghanistan.

He said, Afghans have invested 12 billion dollars in the UAE.

“There is now an opportunity for investment in Afghanistan. I hope that Afghan investors return and invest in Afghanistan, they should take part in the country’s rebuilding and make more investments,” Sadrakhel said.

Meanwhile, officials of the Chamber of Industries and Mines also said that investment opportunities in Afghanistan are better than ever.

According to the chamber’s officials, corruption has ended, security prevails and the government supports the private sector.

“We are ready to invest in the country and expand it. Now there should be more focus on attracting foreign investment in extracting minerals,” Sher Baz Kaminzadeh, head of the Chamber of Industries and Mines, said.

Officials of the Ministry of Industry and Trade said that in order to attract investment in the country, they have provided all the facilities for domestic and foreign investors and are ready for more cooperation in this field.

“We have taken all measures to expand investment and economic activities, and this process will expand further. We are committed to supporting the private sector,” Abdulsalam Jawad Akhundzada, the spokesman of the Ministry of Industry and Commerce, said.

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Pakistan: Consultations underway on preferential trade agreement with Afghanistan

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(Last Updated On: May 11, 2024)

Pakistani officials have announced that consultations are underway with stakeholders on preferential trade agreements with Afghanistan and Azerbaijan.

According to Dawn newspaper, the issue was announced on Friday in a meeting on trade chaired by Pakistan’s Prime Minister Shahbaz Sharif.

In the meeting, the strict monitoring of Afghan Transit Trade was also emphasized.

Pakistani officials have not provided further details on preferential trade with Afghanistan and Azerbaijan.

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Talks with neighboring countries underway for fresh fruit exports: Azizi

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(Last Updated On: May 10, 2024)

Acting Minister of Industry and Commerce Nooruddin Azizi has said that talks with neighboring countries have started for the export of fresh fruit this year.

Azizi added that the Ministry of Industry and Commerce wants the country’s fresh fruit to be exported to Uzbekistan, Kazakhstan and Iran in addition to Pakistan.

Members of the private sector call on the Ministry of Industry and Commerce to step up efforts to find new markets for Afghan exporters.

“We ask the authorities to determine the export routes before the harvesting season. We should find new markets instead of Pakistan. There is capacity for Afghanistan’s exports in the region, and action should be taken in this regard,” said Mirwais Hajizada, the deputy of Chamber of Agriculture and Livestock.

Economic experts say that the Ministry of Industry and Commerce should hold talks with Iran and Uzbekistan in addition to Pakistan for Afghanistan’s exports.

“There are many opportunities to sell our products in markets other than Pakistan. I hope the authorities will think about this. Grounds should be paved to access the markets of South Asia and the Gulf countries through Iran, and the markets of Central Asia through Uzbekistan,” said Mohammad Nabi Afghan, an economic expert.

Members of the private sector say that although Pakistan is the closest and largest market for Afghanistan’s dry and fresh fruits, doing business with it has always been challenging.

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Pakistan, Uzbekistan reaffirm commitment over rail project

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(Last Updated On: May 9, 2024)

Pakistan and Uzbekistan on Wednesday reaffirmed their commitment to early implementation of the Uzbekistan-Afghanistan-Pakistan Railways project which will boost trade within the region.

In a statement issued by Pakistan’s foreign office after a meeting in Islamabad between visiting Foreign Minister of Uzbekistan Bakhtiyor Saidov and Pakistan’s Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, the project “would give boost to bilateral and regional trade and become a bridge between South and Central Asia.”

Prime Minister Shehbaz Sharif also met with Saidov and emphasized the importance of the railway project and Pakistan’s commitment to its early completion.

Pakistan, Uzbekistan and Afghanistan had in February 2021 agreed to build a railway line across Afghanistan to connect Central Asia with Pakistani ports at an estimated cost of $4.8bn.

The railway project, spanning 760 kms, is scheduled for completion by the end of 2027, with the capability to transport up to 15 million tonnes of goods annually by 2030.

This rail link will notably decrease cargo delivery time between Uzbekistan and Pakistan by around five days, while also slashing transportation costs by at least 40 percent.

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