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Expo opens in Kabul in bid to help boost local economy

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(Last Updated On: September 13, 2022)

Officials from the ministry of commerce and industry said Monday they are trying to find markets for Afghan products both domestically and in neighboring countries, and that they are looking at ways for Afghan traders to participate at expos.

Speaking at an expo that opened in Kabul on Monday, officials said the Islamic Emirate of Afghanistan (IEA) supports the domestic production and manufacturing sector in the hope that the country will in time achieve full economic self-sufficiency.

A number of traders exhibiting at the Kabul expo said that such initiatives can help grow domestic production which in turn will lead to job opportunities.

These traders and economic experts have again called on the IEA to support the production and manufacturing sectors in order to help end Afghanistan’s economic crisis and high unemployment rate.

Khan Jan Alokozay, a member of the Afghanistan Chamber of Commerce and Investment (ACCI) meanwhile said that Afghanistan lacks a permanent expo center and suggested it was time one was established.

“We don’t have an exhibition center in Afghanistan, so I hope that the Commerce and Industry officials in cooperation with the Islamic Emirate should establish a permanent exhibition center in Afghanistan,” he said.

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IEA launches investment and visa center at Kabul airport

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(Last Updated On: December 8, 2022)

The Islamic Emirate of Afghanistan (IEA), on Wednesday opened a center for investment and an emergency visa unit at Kabul Airport.

At a ceremony at the airport, the minister of industry and trade said it is necessary to establish such centers to facilitate technical services and issue visas for international businessmen and investors.

“This unit was established to provide services to those international businessmen and investors who intend to invest in Afghanistan, as well as colleagues and engineers who cooperate with the private sector of the country,” said Nooruddin Azizi, Minister of Industry and Trade.

Azizi also added that with the opening of this unit, more opportunities of investment in the country have been provided, compared to that in the past.

This center was inaugurated on Wednesday by Nooruddin Azizi, Minister of Industry and Trade, as well as the ministers of finance; of transport and aviation; the deputy minister of interior, chamber of commerce officials and a number of high-ranking officials.

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Central Bank’s supreme council members meet

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(Last Updated On: December 7, 2022)

Shah Mohammad Mehrabi, a board member of the Swiss-based Afghan Fund is attending a two-day meeting of the Supreme Council of Da Afghanistan Bank (DAB).

The meeting got underway on Tuesday and members will discuss a range of issues, including the performance of the central bank, the implementation of planned programs, the economic situation, the implementation of the monetary policy, strengthening of the banking sector and financial stability.

Digitization of payments and the creation of baking facilities are also being discussed, the bank said in a statement.

“Devising proper monetary policies, strengthening of banking sector, economic development, administrative and other issues will be discussed and decisions will be taken,” said Hasibullah Noori, a spokesman for DAB.

Economic experts suggest that the central bank should increase engagement with international financial institutions, in addition to improving banking facilities.

DAB Supreme Council holds four meetings annually to discuss the bank’s policies and performance.

It is the first such meeting after the board of Swiss-based Afghan Fund met last month.

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Afghan Fund trustee Mehrabi to attend DAB meeting

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(Last Updated On: December 5, 2022)

The Supreme Council of Da Afghanistan Bank will hold a two-day meeting in Kabul, and Shah Mohammad Mehrabi, a board member of the Swiss-based trust fund, is expected to attend the meeting.

Afghan central bank officials say the meeting is set to kick off within the next two days, and aims to resolve banking issues.

Afghanistan’s frozen assets are expected to be discussed in the meeting.

“It (Mehrabi’s participation) would mean empowering Afghanistan authorities. It would also suggest semi-recognition. I think it will be a very good visit, because he has lobbied a lot… a direct relation will be established between the US and Afghanistan authorities,” said Sayed Massoud, an economic expert.

“Unless Afghanistan’s assets are handed over to Da Afghanistan Bank, we cannot call it good news. The money they have kept in the fund is for non-monetary purposes which is never acceptable to Afghanistan. It would affect the value of Afghani currency and the economic condition,” said Lal Zazai, an economic expert.

The meeting comes two weeks after the board of the Swiss-based trust fund managing $3.5 billion in frozen assets held its first meeting.

Anwar-ul-haq Ahadi, one of the board members, in an interview with Ariana News, recently suggested that the assets could also be used to provide liquidity to the banking system in Afghanistan.

“We want to reach an understanding in this regard with the central bank and the finance ministry,” Ahadi said.

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