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Food and oil prices fall in Afghanistan: IEA

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(Last Updated On: October 1, 2022)

The officials of the Islamic Emirate of Afghanistan (IEA) have recently said that the price of food items and oil has decreased by 30 percent in the country.

Mohammad Yunus Mohmand, deputy head of Afghanistan Chamber of Commerce and Investment (ACCI) has said that over the past month, the price of food items and oil have decreased by 30 percent, and in the near future the prices will decrease even more.

“The prices have decreased by 20 to 30 percent and will decline further,” said Mohmand.

Akhundzada Abdul Salam Jawad, a spokesman for the Ministry of Trade and Industry, also said that the ministry has taken more measures to control prices, but they want to import enough food and non-food items into the country.

“We assure the people that before the arrival of this winter season, we have plans to reduce the basic needs, and all commodities and raw materials, Inshallah will have a significant reduction,” said Salam Jawad.

At the same time, the officials of ACCI have further said that the decrease in food prices in the world has had a positive effect on food prices in Afghanistan.

However, the high level of poverty has caused the country’s residents to not be able to buy the materials they need, therefore, they call on the government to pay serious attention to the price of raw materials so that the rates do not rise again.

“Until yesterday, a can of oil was 1900 afghanis, today it has reached 1700 afghanis,” said a shopkeeper.

On the other hand, the price of oil products has also declined, and a number of sellers express hope that the price of oil and gas will decrease further.

“Previously, the price of diesel per liter was 100 afghanis, now it is 97 afghanis. Gasoline was 80 afghanis, now it is 78 afghanis,” said an oil seller.

This reduction in price of food items and oil come while recently the Ministry of Industry and Trade has signed a contract with Russia for the purchase of millions of tons of food and petroleum products, which according to experts, the prices will drop significantly when these products are imported.

Business

Kabul hosts major domestic and international expo

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(Last Updated On: December 1, 2022)

In order to increase investment and support for the country’s domestic business sector, the first Imam Abu Hanifa National and International Expo was officially opened in Kabul on Thursday.

Attending the opening were senior Islamic Emirate of Afghanistan (IEA) officials and representatives of domestic and foreign businesses.

The expos will run for seven days, and over 600 local and foreign exhibitors are displaying their products.

In a voice message marking the opening of the event, the IEA’s supreme leader Mawlavi Haibatullah Akhundzada called on investors in Afghanistan to not rely on foreign aid and instead grow the country’s economy.

“The economy of a country is built when its people work together and do not rely on foreign aid,” said Akhundzada in the voice message.

Abdul Salam Hanafi, the second Deputy Prime Minister of the IEA, said security has returned to the country which has created opportunities for investment. He also said the IEA supports the country’s manufacturing sector.

Hanafi added that if national businessmen are asked for bribes by officials in government offices, they have the right to complain and that corrupt staff will be dealt with.

“No one in government can bribe a national businessman. We are ready to prosecute any government official who asks for a bribe from a national businessman according to Islamic principles,” he said.

Nooruddin Azizi, Minister of Industry and Commerce, also said that supporting domestic production is vital for the economy of a country.

“We should all support domestic products not only in words but also in actions,” he said.

The spokesman of the Islamic Emirate pointed out at the event that in holding the expo, Afghanistan has taken a step towards self-sufficiency and the goal of the Islamic Emirate is to grow the country’s economy following the withdrawal of the American military.

He considers the performance of traders, investors and the Chamber of Commerce to be effective in attracting domestic and international investors in Afghanistan.

“At the moment, domestic and foreign investors have a good opportunity to come and invest in different fields in Afghanistan,” said Zabihullah Mujahid.

In addition, Chamber of Commerce and Investment officials expressed hope that the expo can provide an opportunity for Afghan businessmen to communicate with foreign businessmen.

The expo meanwhile was rolled out without foreign aid.

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IEA minister meets with head of TAPI project

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(Last Updated On: December 1, 2022)

The Islamic Emirate of Afghanistan’s (IEA) minister of mines and petroleum met with the executive director of the TAPI project, Mohammad Murad Amanov, in Kabul and said the project was important on a number of levels including that of job creation.

The minister, Sheikh Shahabuddin Delawar, stated in the meeting that the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project was one of the country’s major socio-economic projects.

He said not only will the roll out of the project provide job opportunities but it will also encourage investment.

“Since Afghanistan is in a good security situation, we should utilize this opportunity and start the practical work of the TAPI project as soon as possible with the cooperation of Afghanistan and Turkmenistan,” he added.

Speaking about the plans and progress of the project, Amanov said that Turkmenistan is striving to start work on the TAPI pipeline as soon as possible.

He said that he will soon announce a specific plan on the construction of gas distribution reserves in Herat.

TAPI project will transfer Turkmen gas to India through Afghanistan and Pakistan.

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Afghanistan urges China to speed up efforts for opening of Silk Route

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(Last Updated On: November 28, 2022)

Industry and commerce minister of the Islamic Emirate of Afghanistan (IEA) on Monday called on Beijing to speed up its efforts for reopening of the Silk Road trade route.

Minister Nooruddin Azizi said that the Wakhan Corridor or the Silk Road can increase the level of trade between the two countries and become a reliable route for the transit of goods.

“The Islamic Emirate of Afghanistan (IEA) has announced its preparations for the opening of this corridor and asks the respsected authorities of the People’s Republic of China to speed up the process of opening this route,” Azizi said.

The Belt and Road Initiative is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 150 countries and international organizations. It seeks to rekindle ancient Silk Road trade routes linking China with Europe and Africa

In September, Afghan Minister of Industry and Commerce said that Afghanistan should be included in the multibillion-dollar China-Pakistan Economic Corridor (CPEC) infrastructure project, which is a central part of the Belt and Road Initiative.

“In talks we had with China, it was mentioned that we should partner with China in the Belt and Road Initiative and China-Pakistan-Economic Corridor and other programs that China has at the international level,” Nooruddin Azizi said in an interview with China’s CGTN.

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