Business
Afghanistan and Pakistan agree to enhance bilateral trade ties
Pakistan and Afghanistan have agreed to enhance bilateral trade relations and the two countries will start cross-border passenger bus services next month.
The Pakistani embassy in Kabul said Wednesday that the two countries have also decided to facilitate issuance of visas, make border crossing points more efficient to ensure early clearance of trade and transit traffic, and address the bottlenecks and impediments on priority basis.
The embassy said that all possible efforts are being made to start a passenger bus service between Peshawar and Jalalabad, and Quetta and Kandahar by the end of next month.
“It was agreed that at the end of August 2022, passenger bus services will be started as a test, initially using two modern and well-equipped buses from both sides. After 15 days, it will increase to 5 buses from each side. After a month, both sides will comprehensively examine the bus services to determine how many buses are needed from each side,” said the Islamic Emirate of Afghanistan.
The two countries agreed to implement a Temporary Admission Document (TAD), allowing free movement of bilateral trade vehicles and preventing loading and unloading of goods at the border crossing points, besides increasing operational timings at all crossing points, particularly Torkham, Kharlachi (Kurram tribal district), Ghulam Khan (North Waziristan) and Chaman/Spin Boldak.
The embassy further said that during the current financial year, bilateral trade and transit has registered growth, adding that this momentum needs to be sustained and further strengthened on a mutually beneficial basis.
The volume of total trade between the two countries in 2021-22 was $1.55 billion. Afghan exports were $834 million, while Pakistan’s exports stood at around $750 million, the Friday times reported.
According to Islamic Emirate of Afghanistan (IEA), during the negotiations, the Pakistani side assured that there is no restriction on the export of Afghan goods from all ports, including the route of Wagah port to India and other countries.
“It was agreed that a tripartite meeting between Afghanistan, Pakistan and Uzbekistan on regional connectivity will be held at the appropriate time,” said Zaibullah Mujahid, in a statement to the media.
Business
Afghanistan-India trade volume totalled $890 million in last solar year
However, Afghanistan’s trade with India through Pakistan has been halted due to closure of the Attari-Wagah border this week.
Afghanistan’s trade with India continued to grow through solar year 1403, with Afghan exports accounting for a significant percentage of the total $890 million.
According to Abdul Salam Jawad, the spokesman for Afghanistan’s Ministry of Commerce and Industry, Afghanistan’s exports to India amounted to $627 million.
Imports were however considerably less, totalling $263 million.
Jawad stated that Afghanistan’s exports were primarily agricultural and herbal products.
The main items included dried figs, asafetida, asafetida seeds, saffron, raisins, cumin, and almonds.
India remains one of Afghanistan’s key regional trade partners, and trade figures highlight the ongoing demand for Afghan goods despite broader geopolitical and logistical challenges.
However, Afghanistan’s trade with India through Pakistan has been halted due to closure of the Attari-Wagah border this week.
Indian media reported that the border, which is the only land route allowed for trade, is now closed.
This route is vital for importing goods from Afghanistan to India, and if it is stopped, trade with Afghanistan will be severely affected.
Some traders have said they will seek alternate routes.
India closed its border crossing this week after gunmen shot and killed at least 26 tourists on Tuesday at a resort in Indian-controlled Kashmir.
Police blamed Pakistani militants for the attack.
An unnamed Afghan businessman is reportedly ready to invest up to $12 million in iron ore mining in Panjshir province, the provincial governor’s spokesman Saifuddin Laton said Sunday.
According to Laton, the businessman has shown interest in investing between $3 and $12 million to mine an area covering 22 square kilometers in Paryan district in Panjshir.
Laton said the contract for this project has been approved by the Economic Directorate of the Prime Minister’s Office of the Islamic Emirate of Afghanistan (IEA).
In addition to extraction, the businessman will also carry out the processing and packaging of the iron ore within the province to create greater added value.
Laton said that in the first phase, the company will launch an exploratory program of the reserves over six months, during which around 500 jobs will be created.
After completing this phase, formal extraction work will begin, he said.
Afghanistan possesses substantial iron ore reserves, estimated at 2.2 billion tonnes, making it a top 10 country for extractable iron.
The largest deposit, Hajigak, is located in Bamiyan province, and contains an estimated 1.7 billion tonnes of high-grade ore.
Sadri Azam Osmani, Deputy Minister of Agriculture, Irrigation and Livestock, on Saturday left Kabul to participate in the 7th International Exhibition of Iran’s Export Capabilities in Tehran.
The expo will be held from April 28 to May 2. According to the organizers, between 2,000 and 3,000 foreign traders from around the world are expected to attend.
Osmani expressed hope that this trip will pave the way for the growth of trade and attract more investments to Afghanistan.
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