Connect with us

Business

Chinese firm offers IEA $10 billion investment in lithium reserves

Published

on

(Last Updated On: April 14, 2023)

The Ministry of Mines and Petroleum (MoMP) said on Thursday that a Chinese Company, Gochin expressed its interest in investing $10 billion in Afghanistan’s lithium deposits.

According to the statement, the minister for mine and Petroleum, Shahabuddin Delawar, met with the Chinses company representatives in Kabul.

The statement said the investment would create 120,000 direct and a million indirect jobs in the country.

The statement meanwhile added that the company would repair the Salang Pass within seven months and carve another tunnel.

The company also stressed that the process of the lithium deposits will get done inside the country, and to process it, a hydroelectric dam will be built, and Kumar and Laghman Road will be asphalted.

In January, the Ministry of Mines and Petroleum signed the extraction contract of the Amu oil field with the Chinese company “China Petroleum Economics and Information Research Center (CPEIC)”.

According to the contract, Afghanistan’s share is 20 per cent, which will reach 75 per cent in the future.

Since the IEA’s takeover, China has increased its influence via economic ties with the current regime.

According to several media reports, Chinese companies have long aspired to access Afghanistan’s extensive and rich lithium deposits, estimated to be worth more than $1 trillion, Bloomberg said.

Business

Azizi meets with head of Tatarstan on sidelines of Kazan Forum

Published

on

(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.

Continue Reading

Business

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

Published

on

(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.

Continue Reading

Business

Acting commerce minister heads to Russia to attend Kazan Forum

Published

on

(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.

Continue Reading

Trending

Copyright © 2022 Ariana News. All rights reserved!