Business

APTTA extended for six months: Pakistan’s envoy

Published

3 years ago

July 8, 2021

(Last Updated On: July 8, 2021)

Afghanistan and Pakistan on Thursday extended the Afghanistan Pakistan Transit Trade Agreement (APTTA) for another six months, said Mansoor Ahmad Khan, Pakistan ambassador to Kabul.

According to the Pakistan envoy, the agreement was signed by Pakistan Commerce Minister Razzak Dawood and the Afghan Minister of Commerce and Industry Nisar Ghoriani.

“The two Ministers appreciated the increase in trade and exports from both sides. They lauded the excellent work of technical teams noting significant progress in negotiations on the new APTTA. Pakistan side welcomed Afghanistan’s offer to host the 9th APTTCA in Kabul in August,” tweeted Khan.

Khan added that “Pakistan’s Commerce Minister Abdul Razzak Dawood conveyed that he will lead Pakistan delegation to Kabul along with a large delegation of business persons and investors” in order for them to network with their Afghan counterparts on the sidelines of 9th APTTA meeting.

In February, Pakistan approved a three-month extension in its transit trade agreement with Afghanistan.

The arrangement allows Afghanistan access to Pakistani seaports, as well as land routes, to conduct international trade and export Afghan goods to India, Pakistan’s arch-rival. In return, Islamabad gets access through Afghanistan to markets in Central Asian states.

The Pakistani Commerce Ministry told Cabinet members in February that more than 832,000 containers of Afghan transit trade, carrying goods worth $33 billion, had passed through Pakistan during the last 10 years.

It is estimated that 30% of Afghan Transit Trade passes through Pakistan, the ministry noted at the time.

The APTTA was concluded in 2010 after years of effort, with the United States playing the facilitating role at the time, and replaced an outdated agreement dating from 1965.

Related Topics:Afghanistan APTTA Envoy extension featured Pakistan

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Azizi meets with head of Tatarstan on sidelines of Kazan Forum

Published

3 hours ago

May 16, 2024

Ariana News

(Last Updated On: May 16, 2024)

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.

Business

Afghanistan’s imports and exports totaled $10.3 billion last year

Published

1 day ago

May 15, 2024

Ariana News

(Last Updated On: May 15, 2024)

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.

Business

Acting commerce minister heads to Russia to attend Kazan Forum

Published

2 days ago

May 14, 2024

Ariana News

(Last Updated On: May 14, 2024)

Nooruddin Azizi, Acting Minister of Industry and Commerce, headed to Russia to participate in an international economic meeting in Kazan, Tatarstan.

The aim of the Russia-Islamic World: KazanForum 2024, the 15th edition of the forum, is to offer a platform for leading international economic and financial specialists from the Islamic world to strengthen ties between the countries of the Organization of Islamic Cooperation (OIC) and the regions of the Russian Federation in the economic, educational, social and cultural spheres, Anadolu Agency reported.

The Ministry of Industry and Commerce said that Azizi, leading a high-level delegation of the Islamic Emriate, traveled to Tatarstan at the invitation of Tatarstan President Rustam Minnikhanov.

The forum is held between May 14 and 19.

The forum also aims to promote the development of Islamic financial institutions in Russia and worldwide, with a focus on joint international projects and programs, according to Anadolu Agency.

More than 80 nations are expected to participate in the event, including representatives of the United Arab Emirates, Bahrain, Malaysia, Türkiye, Iran, Libya, and other OIC member states.