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Afghan Fund trustee Mehrabi to attend DAB meeting

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(Last Updated On: December 5, 2022)

The Supreme Council of Da Afghanistan Bank will hold a two-day meeting in Kabul, and Shah Mohammad Mehrabi, a board member of the Swiss-based trust fund, is expected to attend the meeting.

Afghan central bank officials say the meeting is set to kick off within the next two days, and aims to resolve banking issues.

Afghanistan’s frozen assets are expected to be discussed in the meeting.

“It (Mehrabi’s participation) would mean empowering Afghanistan authorities. It would also suggest semi-recognition. I think it will be a very good visit, because he has lobbied a lot… a direct relation will be established between the US and Afghanistan authorities,” said Sayed Massoud, an economic expert.

“Unless Afghanistan’s assets are handed over to Da Afghanistan Bank, we cannot call it good news. The money they have kept in the fund is for non-monetary purposes which is never acceptable to Afghanistan. It would affect the value of Afghani currency and the economic condition,” said Lal Zazai, an economic expert.

The meeting comes two weeks after the board of the Swiss-based trust fund managing $3.5 billion in frozen assets held its first meeting.

Anwar-ul-haq Ahadi, one of the board members, in an interview with Ariana News, recently suggested that the assets could also be used to provide liquidity to the banking system in Afghanistan.

“We want to reach an understanding in this regard with the central bank and the finance ministry,” Ahadi said.

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Acting commerce minister meets Russian deputy PM

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(Last Updated On: May 17, 2024)

Nooruddin Azizi, Acting Minister of Industry and Commerce, met with Russia’s Deputy Prime Minister Alexei Overchuk to discuss trade and investment, it was announced on Friday.

Sergey Pavlov, General Director of Russian Railways, and Dmitry Zverev, Deputy Minister of Transport of Russia, were also present in the meeting, the Ministry of Industry and Commerce said in a statement.

According to the statement, the two sides discussed increasing the volume of trade, preferential tariff for Afghan goods, Russian investment in mines and water dams in Afghanistan, and Afghanistan’s role in the International North–South Transport Corridor.

They also discussed about reducing the cost of transportation through the Russian railway, removing the export tax on basic materials, arranging the trip of the delegation to the ports of Astrakhan and Makhachkala, and holding a trade connectivity conference and an expo of Afghan products in Moscow.

Azizi met with the Russian deputy PM on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.

He also met with representatives of a number of Tatarstan and Russia companies and encouraged them to invest in Afghanistan.

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Azizi meets with head of Tatarstan on sidelines of Kazan Forum

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(Last Updated On: May 16, 2024)

The Ministry of Commerce and Industry said Thursday acting minister Nooruddin Azizi met with the leader of Russia’s autonomous republic of Tatarstan, Rustam Nurgaliyevich Minnikhanov, on the sidelines of a meeting in Kazan.

According to the ministry, Azizi met with Minnikhanov on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.

The two officials discussed bilateral trade relations, the establishment of the Russian Trade House in Afghanistan, the visit of Minnikhanov to Kabul, investment in electricity production, water transfer, mining, cultural and economic cooperation and other matters.

This annual meeting is held by Russia and the 14th round of this meeting was also held in the same country last year.

The main goal of the forum is to strengthen trade and economic, scientific and technical, social and cultural ties between Russian regions and the countries of Organisation of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.

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Afghanistan’s imports and exports totaled $10.3 billion last year

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(Last Updated On: May 15, 2024)

The National Statistics and Information Authority (NSIA) said on Wednesday that last year, the value of exports totaled $1.79 billion while imports totaled $8.57 billion.

According to NSIA, fruits accounted for the largest share of export items last year, totaling over $645 million.

Medicinal plants, minerals and vegetables were the next top three items respectively to be exported.

Meanwhile, petroleum and oil accounted for the largest portion of imported goods, totaling over $1.37 billion.

Another large portion of the total amount imported went to machinery, vehicles and parts. This totaled over $1.15 billion, followed by textiles, metals and metal products.

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