Business
Expo opens in Kabul in bid to help boost local economy
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.
Shahabuddin Delawar, the acting Minister of Mines and Petroleum, met with a delegation from the Siberian oil and gas sector in Kabul this week to discuss investment opportunities.
According to the ministry, the visiting Russians expressed interest in investing in Afghanistan oil and gas mines.
In response, Delawar welcomed their interest and stated that the ministry would cooperate with them and provide necessary facilities for their endeavors.
The Supreme Leader of the Islamic Emirate of Afghanistan has ratified the national budget for fiscal year 1403 (solar year) after a “thorough review and consideration.”
This year’s national budget has been meticulously crafted to address the needs and priorities of the people, IEA spokesman Zabihullah Mujahid said on Tuesday.
As with the previous year, the budget has been drawn up exclusively using domestic revenues.
The Ministry of Finance will, as always, incorporate the national budget for the fiscal year 1403 into the country’s financial system, Mujahid said.
All associated sectors, both ordinary and developmental, will be managed with full transparency and in accordance with standard procedures, he added.
No further details were given.
Nooruddin Azizi, Acting Minister of Industry and Commerce, met with Russia’s Deputy Prime Minister Alexei Overchuk to discuss trade and investment, it was announced on Friday.
Sergey Pavlov, General Director of Russian Railways, and Dmitry Zverev, Deputy Minister of Transport of Russia, were also present in the meeting, the Ministry of Industry and Commerce said in a statement.
According to the statement, the two sides discussed increasing the volume of trade, preferential tariff for Afghan goods, Russian investment in mines and water dams in Afghanistan, and Afghanistan’s role in the International North–South Transport Corridor.
They also discussed about reducing the cost of transportation through the Russian railway, removing the export tax on basic materials, arranging the trip of the delegation to the ports of Astrakhan and Makhachkala, and holding a trade connectivity conference and an expo of Afghan products in Moscow.
Azizi met with the Russian deputy PM on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.
He also met with representatives of a number of Tatarstan and Russia companies and encouraged them to invest in Afghanistan.
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