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Afghanistan exports hundreds of tons of white paper to Central Asia

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(Last Updated On: April 16, 2022)

Afghanistan exported hundreds of tons of domestically produced white paper to Central Asian countries this month, officials said on Saturday.

The Chamber of Industries and Mines said that Afghanistan is capable of producing any type of paper.

According to the chamber, Afghanistan needs 15,000 tons of white paper annually, but the level of domestic production is four times the country’s needs. Hence, the country’s industrialists have started exporting to the markets of Central Asian countries according to the global standards.

 “We call on the Islamic Emirate to provide us with durable materials and electricity for domestic production and also to prevent the smuggling of goods to Afghanistan,” said Sherbaz Kaminzada, CEO of Afghanistan Chamber of Commerce and Industries.

Members of the private sector also call on the Islamic Emirate of Afghanistan (IEA) to prevent paper imports in order to support domestic production.

Meanwhile, the Afghan Ministry of Finance assured the private sector officials that it is committed to enhancing domestic production and to remove all the barriers for domestic production.

“The Islamic Emirate of Afghanistan (IEA) strives to create all the facilities for the expansion of domestic production. We are also trying to create facilities in the sphere of regulation,” said Ahmad Wali Haqmal, the ministry spokesman.

Economists also say that boosting domestic production could save Afghanistan from poverty and economic crisis, adding it would also create job opportunities and increase the country’s revenues.

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IEA calls for release of frozen funds following deadly earthquake

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(Last Updated On: June 26, 2022)

Afghanistan’s Islamic Emirate of Afghanistan (IEA) has called on international governments to roll back sanctions and lift a freeze on central bank assets following the earthquake that killed more than 1,000 people and left thousands homeless.

The 6.1-magnitude quake that struck the east of the country early on Wednesday destroyed or damaged 10,000 homes and injured about 2,000 people.

“The Islamic Emirate is asking the world to give the Afghans their most basic right, which is their right to life and that is through lifting the sanctions and unfreezing our assets and also giving assistance,” Abdul Qahar Balkhi, foreign affairs ministry spokesman, told Reuters in an interview.

While humanitarian aid continues to flow to Afghanistan, funds needed for longer-term development were halted when the IEA seized control of the country in August 2021 as foreign forces withdrew.

Billions of U.S. dollars in Afghan central bank reserves remain frozen overseas and sanctions hamper the banking sector as the West pushes for concessions on human rights.

Western governments are particularly concerned about the rights of women and girls to work under IEArule.

Asked about the issue, Balkhi said Afghans’ right to life-saving funds should be the priority, adding that the international community handled concerns over human rights differently depending on the country involved.

“Is this rule universal? Because the United States just passed an anti-abortion law,” Balkhi said, referring to the Supreme Court’s overturning on Friday of the landmark Roe v. Wade ruling that recognised a woman’s right to an abortion.

“Sixteen countries in the world have taken away the rights of religious minorities, especially Muslims … are they also facing sanctions because they are violating rights?,” he asked.

White House spokesperson Karine Jean-Pierre said on Saturday the U.S. government was working on “complicated questions about the use of these (frozen central bank) funds to ensure they benefit the people of Afghanistan and not the Taliban (IEA).”

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IEA’s supreme leader meets traders and manufacturers in Kandahar

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(Last Updated On: June 21, 2022)

The Islamic Emirate of Afghanistan’s (IEA) supreme leader, Haibatullah Akhundzada, met with dozens of traders and manufacturers in southern Kandahar province on Monday.

During the meeting, Akhundzada called on the private sector to take effective steps for development and independence of Afghanistan’s economy, state-run news agency Bakhtar reported.

He said that the IEA is committed to resolving problems that traders and manufacturers are facing.

“We welcome the Amir-ul-Mominin’s move. The private sector representatives are now fully assured that IEA supports them and they can invest freely in Afghanistan,” said Abdul Nasir Reshtya, a member of the Chamber of Industries and Mines.

Economic experts believe the smaller the gap between the private sector and the government, the more chance the private sector will have to develop and there will be greater interest in investing in Afghanistan.

“We welcome such meetings. It could encourage the private sector to invest in the country with full security assurance,” said Shabir Ahmad Bashiri, an economic expert.

IEA has held several meetings with members of the private sector in the past 10 months.

Recently, the IEA, under the guidance of acting deputy Prime Minister Mullah Baradar, who also heads the economic commission, established the new state-run investment company called Afghan Invest.

Officials said Afghan Invest, a limited liability company, with a capital of $250 million, was recently inaugurated as a result of Baradar’s efforts.

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IEA calls on Afghans at home and abroad to invest in new state-run initiative

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(Last Updated On: June 19, 2022)

First Deputy Prime Minister Mullah Abdul Ghani Baradar said Sunday the Islamic Emirate of Afghanistan (IEA) is working on an economic policy that will help restore the economy and lift the country out of poverty. 

Speaking at an event to launch a new state-run limited liability company, Afghan Invest, Baradar called on Afghans to bring their foreign-based capital back into the country and invest in the new initiative.

According to the IEA, 13 investors have already collectively invested $250 million. 

Baradar said at the launch that Afghanistan is potentially an extremely wealthy country given the enormous, largely untapped, mineral reserves.

“Our country is very rich in terms of mines. Afghan investors if they have capital abroad, must relocate it to their home country, we support you. Trade is vital for a country,” said Baradar. 

He also stressed that the government’s doors are open to all businessmen and that the IEA will support them. He said he hoped that businessmen across all ethnic lines in the country would invest in the new company. 

Acting Minister of Commerce and Industry Nooruddin Azizi, who also attended the launch, said the only way to save Afghanistan from its current crisis was for Afghans to work together. 

“The only solution to our country’s economic problems is for Afghans to work together and make sincere efforts,” said Azizi.

Sher Mohammad Abbas Stanikzai, the deputy minister of foreign affairs, said that it was because of the sacrifices of the people’s jihad that neighboring countries like Pakistan and Iran live in peace. He said the world should respect this.

“Not only did we liberate our country, but we also freed the countries in the region from aggressors,” said Stanikzai, at the event.

“We have a proud, and free Afghanistan, which we must protect and safeguard,” he added.

Afghan Invest officials said the aim of the company is to establish economic stability and encourage investment in the country. This includes investment across a broad range of sectors such as agriculture, mining, energy production and infrastructure development. 

Cabinet members meanwhile said that with the return to power of the IEA, national sovereignty, national security and national integrity have been restored and that the new authorities will support investors. 

Economic experts believe that the establishment of such ventures can have a positive impact on the country’s economy, and that foreign investors could be encouraged to invest in the country.

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