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Acting commerce minister leaves for Uzbekistan

A coal sales contract is also expected to be signed with Uzbekistan.

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Acting Minister of Industry and Commerce Nooruddin Azizi has traveled to Uzbekistan to inaugurate an expo of Afghan products in Tashkent.

Azizi will also participate in a business forum.

Before leaving Kabul, Azizi said that he will discuss the expansion of economic relations, including trade, investment and attracting regional cooperation with the Uzbek authorities.

“During this trip, we want to have more business plans with the Republic of Uzbekistan. Thanks to Allah, there is capacity, there is ability. We hope that our trip will have a good result,” Azizi said.

A coal sales contract is also expected to be signed with Uzbekistan.

"We have discussed with Uzbekistan about the export of approximately one million tons of coal. Uzbekistan has agreed and they worked on the mechanism and we also worked. I am sure that we have made good progress in this field and we are trying to ink a contract with Uzbekistan for one million tons or more,” Azizi said.

Two hundred and fifty Afghan businessmen and investors are expected to participate in the expo of domestic products of Afghanistan in Tashkent.

“They (Uzbeks) have pledged to cooperate with Afghanistan in the areas of electricity and coal export. This expo will play an important role for Afghanistan's economy, and the two sides will sign agreements,” Mohammad Yunus Mohmand, deputy of the Chamber of Commerce and Investment, said.

The three-day expo will showcase mostly carpets, handicrafts, precious and semi-precious stones and dried fruits.

 

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A three-day expo for Afghan products to be held in Uzbekistan


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Gold holds near record peak as trade jitters buoy safe-haven demand

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Gold prices eased on Thursday as the dollar regained some ground, although concerns over the U.S.-China trade war kept the safe-haven bullion close to a record high level hit in the previous session.

Spot gold was 0.4% lower at $2,854.39 per ounce by 0802 GMT, after hitting an all-time peak of $2,882.16 in the previous session, Reuters reported.

U.S. gold futures shed 0.6% to $2,875.

The dollar index , which measures the greenback against six major rivals, was up 0.2%.

"Investors are trying not to miss this rally as they place their position because they are happy with the returns. That's the reason why it's (gold) hitting successive highs," said Soni Kumari, a commodity strategist at ANZ.

"Bullion could hit the $3,000 level soon ... However, what could make the market consolidate will be some clarity on trade ties or easing trade tensions."

On Wednesday, China filed a World Trade Organization complaint against U.S. President Donald Trump's new 10% tariff on Chinese imports.

A trade war between the world's two largest economies could weigh on global growth and drive up inflation, benefiting the bullion further as it is considered a safe investment during economic and geopolitical turmoil.

"The gold bull market looks set to continue under Trump 2.0 with trade wars and geopolitical tensions reinforcing the reserve diversification/de-dollarization trend and supporting EM official sector gold demand," Citi said in a note.

"Global growth concerns are also set to raise ETF and over-the-counter investment demand."

U.S. Federal Reserve officials also pointed to the large policy uncertainty around tariffs and issues arising from the early days of Trump's administration as among the top challenges in figuring out where to take the monetary policy in the months ahead.

Market focus is now on U.S. weekly jobless claims data, due at 1330 GMT, and the non-farm payrolls report on Friday, which could offer insights into the economy's overall strength.

Spot silver dropped 1.3% to $31.91 per ounce, and palladium fell 0.4% to $985.48. Platinum gained 0.2% to $981.74.

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US spending of $3.71 billion has had no impact on Afghanistan’s economy: Ministry

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The Ministry of Economy in a statement on Saturday responding to a report by the Office of the Special Inspector General for Afghanistan Reconstruction (SIGAR), said the $3.71 billion mentioned by the agency was allocated to international institutions, a large portion of which was used for their own expenses, and the rest designated as humanitarian aid.

SIGAR’s report stated that the US has spent $3.71 billion in Afghanistan over the past three years, but it has had little significant impact on the country’s economic situation.

According to the statement, the Ministry of Economy has urged the international community and countries to release over $9 billion of Afghanistan's foreign reserves, which have been frozen, to the Da Afghanistan Bank (DAB).

The statement stated this would allow the funds to be used for maintaining monetary stability, strengthening the financial system, facilitating trade with the world, and ensuring Afghanistan’s economic stability.

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Industry ministry to establish ‘unified union’ for pine nut sector

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The Ministry of Industry and Commerce (MoIC) said in a statement on Saturday that a unified union will be established for the pine nut sector to support its development and eliminate unhealthy competition among its members.

According to the statement, acting Minister of Industry and Commerce Nooruddin Azizi met with pine nut traders during a meeting to support and address the challenges faced by the pine nut sector.

In the meeting, discussions focused on the establishment of pine nut processing factories, export issues, supporting sector members, and creating a pine nut market within the country.

Traders also stated that currently, Afghan pine nuts are exported to China, India, and European countries.

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