Business
Afghanistan signs memo of cooperation with Turkish firm to generate power locally
In continuation of the efforts to attract foreign investment in the country, the Islamic Emirate of Afghanistan’s (IEA) energy and water ministry signed a memorandum of cooperation in Kabul with a Turkish construction company, 77 Insaat, in order to produce 200 megawatts of electricity from wind sources in the west of Afghanistan.
At the meeting, the Minister of Energy and Water, Abdul Latif Mansour, said that the western parts of the country are windy enough to produce electricity and that the contracting company has good experiences in building hydroelectric dams and in generating electricity from other sources.
Officials 77 Insaat meanwhile said that they have invested in various sectors of energy production in Afghanistan over the last ten years. According to them, now they intend to cooperate with the current government to produce energy from wind sources.
“We have implemented projects in the field of energy production in different regions of Afghanistan and we are trying to work more with Afghans and the Islamic Emirate has full cooperation with the private sector,” said Suleyman Ciliv, the head of 77 Insaat.
Meanwhile, the officials of the ministry ask all domestic and foreign investors to invest in water dams and energy production in Afghanistan and they also provide facilities for investors in this field.
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.
The Ministry of Commerce and Industry said Thursday acting minister Nooruddin Azizi met with the leader of Russia’s autonomous republic of Tatarstan, Rustam Nurgaliyevich Minnikhanov, on the sidelines of a meeting in Kazan.
According to the ministry, Azizi met with Minnikhanov on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.
The two officials discussed bilateral trade relations, the establishment of the Russian Trade House in Afghanistan, the visit of Minnikhanov to Kabul, investment in electricity production, water transfer, mining, cultural and economic cooperation and other matters.
This annual meeting is held by Russia and the 14th round of this meeting was also held in the same country last year.
The main goal of the forum is to strengthen trade and economic, scientific and technical, social and cultural ties between Russian regions and the countries of Organisation of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.
The National Statistics and Information Authority (NSIA) said on Wednesday that last year, the value of exports totaled $1.79 billion while imports totaled $8.57 billion.
According to NSIA, fruits accounted for the largest share of export items last year, totaling over $645 million.
Medicinal plants, minerals and vegetables were the next top three items respectively to be exported.
Meanwhile, petroleum and oil accounted for the largest portion of imported goods, totaling over $1.37 billion.
Another large portion of the total amount imported went to machinery, vehicles and parts. This totaled over $1.15 billion, followed by textiles, metals and metal products.
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