Connect with us

Business

Afghanistan, Pakistan agree to abandon barter trade, establish banking relationships

Published

on

Afghanistan and Pakistan agreed to abandon barter trade and to establish banking relationships during the two-day talks in Kabul, the Islamic Emirate’s spokesman Zabihullah Mujahid announced late Thursday.

The agreement came during talks between Afghan delegation led by Acting Minister of Industry and Commerce, Nooruddin Azizi, and the Pakistani delegation led by Federal Secretary of Commerce Muhammad Khurram Agha.

It was agreed that the Pakistani side will facilitate the transfer of goods from international containers to regional containers in the ports of Karachi in the next six months, Mujahid said in a statement.

An agreement was made regarding preferential trade, where both sides will give tariff preferences to those 10 items of export goods, 8 of which are agricultural and 2 items are industrial.

The sides agreed on a temporary free license for truck traffic for one year as a trial period, which will be implemented from May 2024.

They also reached an agreement regarding the transfer of goods through the airports of the two countries in the form of multi-modal air transit, which will start in the next two months.

As part of Pakistan’s recent measures regarding Afghanistan’s transit goods, it was agreed that within a week, the mandatory bank guarantee should be removed and insurance should be used as before, in consultation with the parties, the necessary measures will be taken to remove other obstacles.

The export of coal from Afghanistan to Pakistan was also discussed and the Pakistani side expressed its readiness to buy it at the international price, according to the statement.

Earlier Pakistan’s Charge d’Affaires for Afghanistan, Ubaid-ur-Rehman Nizamani said in a video message on Wednesday that the recent trade talks in Kabul had been “successful” and that he hoped this would give fresh impetus to bilateral trade between the two countries.

Business

Iraqi intelligence report alleges oil smuggling network supplying Afghanistan and Turkey through Iran

The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.

Published

on

An Iraqi intelligence report obtained by Sky News Arabia has revealed alleged large-scale crude oil smuggling operations from northern Iraq into Iran, where the oil is reportedly refined and later sold in regional markets, including Afghanistan and Turkey.

According to the report, shipments of crude oil are transported through land routes and unofficial trade channels into Iranian territory, where they undergo refining and processing before being re-exported to foreign markets.

The intelligence findings suggest that the alleged network is designed to bypass international sanctions and facilitate the movement of petroleum products outside official trade and financial monitoring systems.

The report further indicates that smuggling networks rely on informal transportation routes and cross-border commercial channels to maintain the collection, processing and distribution of oil products while avoiding regulatory oversight.

The revelations have raised concerns over cross-border smuggling, the loss of national resources and the potential impact of illicit oil trade on regional economies.

Security and political observers say the reported activities could put additional pressure on Iraqi authorities to strengthen border controls, monitor oil transportation routes and improve coordination with regional and international partners.

However, the allegations outlined in the intelligence report have not been independently verified, and further details about the networks involved, the quantities of oil transported and the scale of supplies reaching Afghanistan and Turkey remain unclear.

The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.

Continue Reading

Business

$30 million pharmaceutical investment launched in Herat as new production line opens

Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.

Published

on

The foundation stone has been laid for three new pharmaceutical production blocks at Ovison Pharma in Herat, with an investment of $30 million, while the factory’s new serum and injectable production line has also been inaugurated.

The new production blocks will be constructed on a 3,000-square-metre site, with each facility planned to have five floors. Equipped with advanced machinery and designed to meet international standards, the expansion is expected to significantly increase the factory’s pharmaceutical production capacity.

Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.

The expansion marks a significant step toward strengthening Afghanistan’s pharmaceutical industry, increasing domestic production and reducing the country’s reliance on imported medicines.

The investment is also expected to support the development of local manufacturing capacity and improve access to domestically produced pharmaceutical products.

Continue Reading

Business

Afghanistan approves new foreign investment policy in bid to attract international investors

The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.

Published

on

Afghanistan’s Economic Commission has approved a new foreign investment policy aimed at attracting international investors, improving investment opportunities and supporting the country’s economic growth.

The decision was made during the commission’s regular meeting, chaired by Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, at the Marble Palace on Monday.

According to the Deputy Prime Minister’s Office for Economic Affairs, the proposed policy was presented by a committee established under the leadership of the economic deputy office. Following a comprehensive review and consideration of the commission’s recommendations, the policy was approved.

The policy aims to regulate foreign investment activities, facilitate investment procedures, create a favourable environment for investors, ensure investment security and promote Afghanistan’s economic growth and development.

During the meeting, the commission also approved a proposal concerning the payment of fixed taxes by commercial import companies at the country’s customs offices.

Officials said implementing the proposal would create additional facilities and simplify procedures for importing businesses.

The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2026 Ariana News. All rights reserved!