Business
Cabinet approves draft national budget for fiscal year 1400
Afghanistan’s Cabinet this week approved the draft national budget for the next fiscal year, the Presidential Palace confirmed Thursday.
At the same meeting, Cabinet also approved adjustments to the Public Finance and Expenditure Management Regulation, a draft plan of hydrocarbons regulation, draft statute of Da Afghanistan Breshna Sherkat (the Afghan power company), and draft law on cadastre.
In most countries, legal systems have developed around original administrative systems and use cadastre to define the dimensions and location of land parcels in legal documents.
The cabinet also approved a request by the Ministry of Economy to approve a $3.4 million dollar aid package from USAID to fight coronavirus.
In addition, Cabinet approved a request by the ministries of finance and higher education to transfer $1.5 million, not spent by the counter-narcotics unit, to help fund construction of the Helmand University.
Business
Afghanistan, Uzbekistan sign $50 million worth of trade agreements at Mazar-e-Sharif forum
The business forum reflects ongoing efforts by both countries to deepen commercial ties and promote regional economic integration through increased private-sector engagement.
Afghanistan and Uzbekistan signed 25 cooperation agreements worth $50 million during a bilateral business forum held in the northern city of Mazar-e-Sharif, officials said.
Faiz Ahmad Khawafi, Deputy for Provincial Affairs at the Afghanistan Chamber of Commerce and Investment, said the agreements were signed in the presence of 130 Uzbek businessmen and investors, the governor of Uzbekistan’s Fergana region, as well as Afghan local officials and private sector representatives.
According to Khawafi, the agreements aim to expand bilateral trade, boost investment, and strengthen economic cooperation between Afghanistan and Uzbekistan.
The business forum reflects ongoing efforts by both countries to deepen commercial ties and promote regional economic integration through increased private-sector engagement.
Business
Iran seeks to establish free trade zone with Afghanistan and China
Business
Afghanistan, Uzbekistan discuss expanding economic, trade and investment cooperation
For his part, Khojayev said Uzbekistan is prepared to invest in Afghanistan’s mining sector and increase imports of Afghan meat and cotton.
Afghanistan’s Deputy Prime Minister for Economic Affairs, Mullah Abdul Ghani Baradar, met on Sunday with Uzbekistan’s Deputy Prime Minister, Jamshid Khojayev, and his accompanying delegation at the Chahar Chinar Palace in the Arg to discuss expanding bilateral economic cooperation.
The two sides held talks on strengthening economic, trade, investment, and transit cooperation between Afghanistan and Uzbekistan.
Baradar said stronger and more stable relations between Kabul and Tashkent would not only serve the economic interests of both countries but also contribute to regional stability. He added that the Islamic Emirate is ready to use all available capacities to further strengthen and expand bilateral ties.
He emphasized the effective implementation of the joint action plan between the two countries, describing it as an important step toward boosting economic growth.
Baradar also identified several priority areas for cooperation, including removing obstacles to the movement of Afghan export vehicles to Uzbekistan, granting exemptions for Afghan transit goods arriving from China, Central Asia, and Russia, facilitating exports of Afghanistan’s agricultural products, fresh and dried fruits, food products, and valuable minerals to the markets of Central Asia, Russia, and China, increasing the capacity of transit infrastructure, expanding customs facilities, easing the issuance of visas for Afghan citizens, and enhancing cooperation in the energy sector and joint infrastructure projects.
He said broader cooperation between Afghanistan and Uzbekistan would not only elevate bilateral economic relations but could also serve as a model of good neighborly relations for other countries in the region.
For his part, Khojayev said Uzbekistan is prepared to invest in Afghanistan’s mining sector and increase imports of Afghan meat and cotton.
He also announced Uzbekistan’s readiness to build a $50 million zinc processing plant in Hairatan.
Khojayev added that the Uzbek delegation would work with relevant institutions of the Islamic Emirate in the areas of transport, energy, agricultural development, banking, trade, economic cooperation, and capacity-building for Afghan citizens.
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