Business
Businesses resume normal operations in Kabul amid lingering uncertainty, disruptions
Businesses have resumed normal operations in Kabul despite the lingering uncertainties and disruptions brought by economic and humanitarian crises.
Stores, restaurants and peddlers open their businesses early in the morning. A growing numbers of vehicles and pedestrians have been seen on the street days following the Islamic Emirate of Afghanistan (IEA)’s removal of roadside blast walls and concrete barricades which had been erected across the city for years due to security concerns.
While some Kabul residents are hopeful for better lives, many store owners are still concerned about their businesses.
“The sale is not good because our business largely depends on foreigners. There used to be foreign companies and embassies in Afghanistan, but now they have left,” said Naser, the owner of a wool fabric shop in Kabul.
Naser said local people’s abilities to consume crafts is relatively low as most of them are still worried about food and clothing.
“The current sales volume is about half of what it used to be. I hope the business will grow better in the future as peaceful life arrives and security situation improves,” said Khalid, the owner of a local lapis lazuli jewelry store.
After the IEA’s takeover in mid-August, the Afghan economy has suffered from the U.S. freezing of over nine billion dollars in assets belonging to the Afghan central bank as well as a halt in funds by the World Bank and the International Monetary Fund.
In his open letter to urge the U.S. to unfreeze the assets, acting Foreign Minister Amir Khan Muttaqi said Afghans will face greater difficulties and the country will become a source of mass migration in the region and the world if there’s no change in the current situation.
Business
Belarus ready to boost petroleum trade and investment cooperation with Afghanistan
Officials stressed the importance of expanding trade relations, developing joint investment opportunities and creating practical mechanisms for broader economic cooperation.
Belarus has expressed readiness to expand economic cooperation with Afghanistan, including the transportation and import of petroleum products through direct agreements with Afghan government institutions and private-sector companies.
Afghanistan’s Ministry of Commerce and Industry said on Friday that Deputy Minister Ahmadullah Zahid held talks with Belarusian Deputy Trade Minister Vlad Mirvoyevich Ryzhkovsky and senior officials from Belarus’ oil and investment sectors.
The discussions focused on boosting bilateral trade, expanding Afghanistan’s exports, importing petroleum products from Belarus, attracting investment and strengthening cooperation in the industrial and energy sectors.
The two sides also discussed closer engagement between private-sector businesses and the need to make effective use of the economic potential of both countries.
According to the ministry, officials stressed the importance of expanding trade relations, developing joint investment opportunities and creating practical mechanisms for broader economic cooperation.
The Belarusian delegation assured Afghan officials that it would take the necessary steps to establish direct cooperation and sign agreements with Afghan government institutions and private companies for the transportation and import of petroleum products.
The meeting comes as Afghanistan seeks to diversify its economic and trade partnerships, increase exports and attract greater foreign investment and cooperation from countries in the region and beyond.
Iranian President Masoud Pezeshkian has called for the removal of obstacles to economic cooperation and greater facilitation of trade and transit between Iran and Afghanistan.
At a Cabinet meeting chaired by Pezeshkian on Wednesday, officials reviewed a report on Iran’s agriculture minister’s recent visit to Afghanistan and the latest developments in economic ties between the two countries.
According to the report, Afghan officials welcomed closer relations with Iran and expressed readiness to increase bilateral trade and expand economic cooperation.
The meeting also focused on key challenges facing trade between the two countries, including customs procedures, the movement of vehicles through border crossings and delays in transporting goods.
Pezeshkian stressed the strategic importance of economic ties with Afghanistan and called for stronger cooperation. He instructed relevant authorities to take practical steps to address obstacles to trade and transit and improve the movement of goods across the border.
Business
Afghanistan, Kuwait explore new investment and trade opportunities
The Afghan Embassy in Kuwait said the talks focused on Afghanistan’s security and stability, economic potential and available investment opportunities.
Afghanistan and Kuwait have discussed expanding trade and investment cooperation during a meeting between Afghanistan’s Chargé d’Affaires in Kuwait, Mohammad Shafiq Khatib, and prominent Kuwaiti investor Ajeej Khalaf, along with a number of businessmen and investors.
The Afghan Embassy in Kuwait said the talks focused on Afghanistan’s security and stability, economic potential and available investment opportunities.
The sides stressed the importance of strengthening trade and economic ties and expanding investment cooperation between the two countries.
Khatib invited Kuwaiti businessmen and investors to visit Afghanistan, explore investment opportunities and consider investing in various sectors of the Afghan economy.
The meeting comes as Afghanistan seeks to attract more foreign investment and strengthen economic and commercial ties with regional and international partners.
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