Business

Afghanistan and Pakistan agree to enhance bilateral trade ties

Published

2 years ago

July 21, 2022

(Last Updated On: July 21, 2022)

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.

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Siberian oil and gas businessmen meet with Delawar for talks

Published

12 hours ago

May 23, 2024

Ariana News

(Last Updated On: May 23, 2024)

Shahabuddin Delawar, the acting Minister of Mines and Petroleum, met with a delegation from the Siberian oil and gas sector in Kabul this week to discuss investment opportunities.

According to the ministry, the visiting Russians expressed interest in investing in Afghanistan oil and gas mines.

In response, Delawar welcomed their interest and stated that the ministry would cooperate with them and provide necessary facilities for their endeavors.

Business

Supreme leader approves budget for 1403 solar year

Published

1 day ago

May 22, 2024

Ariana News

(Last Updated On: May 22, 2024)

The Supreme Leader of the Islamic Emirate of Afghanistan has ratified the national budget for fiscal year 1403 (solar year) after a “thorough review and consideration.”

This year’s national budget has been meticulously crafted to address the needs and priorities of the people, IEA spokesman Zabihullah Mujahid said on Tuesday.

As with the previous year, the budget has been drawn up exclusively using domestic revenues.

The Ministry of Finance will, as always, incorporate the national budget for the fiscal year 1403 into the country’s financial system, Mujahid said.

All associated sectors, both ordinary and developmental, will be managed with full transparency and in accordance with standard procedures, he added.

No further details were given.

Business

Acting commerce minister meets Russian deputy PM

Published

6 days ago

May 17, 2024

Ariana News

(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.