Business
Afghanistan, Pakistan likely to endorse air-to-road corridor: report
Afghanistan and Pakistan are likely to agree on development of a multimodal air-to-road corridor for Afghan transit trade in a bid to boost trade between the two countries, the Express Tribune reported on Friday.
The two sides have proposed this addition to the revised Afghanistan Pakistan Transit Trade
Agreement (APTTA).
Pakistan’s Ministry of Commerce, in recent briefing to a cabinet meeting, chaired by Prime Minister Shehbaz Sharif, pointed out that APTTA 2010 did not cover the multimodal bonded air-to-land transit of cargo.
However, the revised agreement, APTTA 2021, would cover it, but it had not yet been signed.
Pakistan’s Ministry of Commerce, in order to facilitate uninterrupted supply of humanitarian aid to Kabul, sought approval of the cabinet for the multimodal bonded air-to-land transit of Afghan cargo from the Islamabad Airport and then onward shipment on trucks through the Torkham and Ghulam Khan crossing points via road.
Pakistan’s Federal Board of Revenue suggested to the Ministry of Commerce to allow the multimodal air-to-land corridor for Afghanistan’s imports from around the world and its exports through international airports of Pakistan.
The Express Tribune said that the introduction of the corridor would contribute significantly to economic development of Pakistan.
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.
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.
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.
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