Business
Afghan, Uzbek officials sign power transmission agreement
Afghanistan and Uzbekistan officials signed a power transmission agreement on Friday at a ceremony in Tashkent, Uzbekistan.
According to the agreement Afghanistan can now import electricity from Uzbekistan for the next ten years.
The Afghanistan Ministry of Foreign Affairs said in a statement that based on the agreement, which was signed between Chief Executive of Da Afghanistan Breshna Sherkat Ahmad Dawood Noorzai and Dadajon Isakulov, Chairman of the state-owned National Electric Networks of Uzbekistan, a 500-kV electricity transmission line will be built by an Uzbek company with funding of $100 million from the Asian Development Bank.
The ministry said in the first two years, 4.25 GW of electricity per hour will be exported to Afghanistan and it will be increased by 6 GW per hour thereafter.
“With the implementation of this agreement, electricity will be provided 24 hours a day to the northern, central, southern and southwestern provinces and the capital of the country,” the statement read.
Chief of Staff in President Ashraf Ghani’s office Mohammad Shakir Kargar, Acting Minister of Transport Mohammad Yamma Shams, Acting Deputy Minister for Industry and Commerce Abdul Karim Malikyar, Chief Executive of Da Afghanistan Breshna Sherkat Ahmad Dawood Noorzai, and Abdul Bari Sediqi, head of the Afghanistan Railway Authority attended the ceremony.
The development comes at a time Afghanistan is reliant on imported electricity, from its neighbors, including Tajikistan, Uzbekistan, and Iran.
The agreement also coincides with Acting Foreign Minister Mohammad Haneef Atmar’s two-day visit to Tashkent to discuss ways to expand bilateral ties and cooperation in various sectors including irade and transport.
Uzbekistan’s Foreign Minister Abdulaziz Kamilov said Friday: “We hope that this historic trip will further enhance political and economic cooperation between the two countries and strengthen our relations in the fields of trade, transport, electricity, and energy.”
Business
Afghanistan’s imports and exports totaled $10.3 billion last year
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.
Business
Acting commerce minister heads to Russia to attend Kazan Forum
Nooruddin Azizi, Acting Minister of Industry and Commerce, headed to Russia to participate in an international economic meeting in Kazan, Tatarstan.
The aim of the Russia-Islamic World: KazanForum 2024, the 15th edition of the forum, is to offer a platform for leading international economic and financial specialists from the Islamic world to strengthen ties between the countries of the Organization of Islamic Cooperation (OIC) and the regions of the Russian Federation in the economic, educational, social and cultural spheres, Anadolu Agency reported.
The Ministry of Industry and Commerce said that Azizi, leading a high-level delegation of the Islamic Emriate, traveled to Tatarstan at the invitation of Tatarstan President Rustam Minnikhanov.
The forum is held between May 14 and 19.
The forum also aims to promote the development of Islamic financial institutions in Russia and worldwide, with a focus on joint international projects and programs, according to Anadolu Agency.
More than 80 nations are expected to participate in the event, including representatives of the United Arab Emirates, Bahrain, Malaysia, Türkiye, Iran, Libya, and other OIC member states.
Business
Afghanistan can become important industrial center in region: Hanafi
Deputy Prime Minister for Administrative Affairs Abdul Salam Hanafi says Afghanistan has the potential to become one of the most important industrial centers in the region.
Speaking at the opening ceremony of the national and international expo on the occasion of Industry Week, Hanafi said that the growth of industry lays the foundation for the growth of other economic sectors and that the Islamic Emirate fully supports domestic production in the country.
“Afghanistan has important and rich factors for industrial production, which can become one of the important industrial centers in the region. The growth of industry will be the basis for the growth of other economic sectors, especially agriculture,” said Hanafi.
Acting Minister of Industry and Commerce, Nooruddin Azizi, added that the IEA has programs in the fields of industry development and support for the private sector that will make Afghanistan self-sufficient.
Azizi stated that Afghanistan’s industrial sector is currently progressing and the quality of export goods has also improved.
Some investors said at the ceremony that after the return of the IEA, the country’s exports have increased and the number of manufacturing companies has also increased.
This expo is open to visitors for seven days, and industrial products are showcased in 450 booths.
Women in business also attended the meeting.
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