Business
IEA in talks with Russia, China to settle trade in local currencies
The Islamic Emirate of Afghanistan (IEA) is in advanced talks with Russia—and has proposed similar discussions with China—to conduct trade transactions in local currencies, Acting Minister of Industry and Commerce Nooruddin Azizi told Reuters on Thursday.
Technical teams from Russia and Afghanistan are negotiating the plan, aimed at bypassing Western sanctions and reducing reliance on the U.S. dollar. Talks with China are ongoing via the Chinese embassy in Kabul.
“We are currently engaged in specialised discussions on this matter, considering the regional and global economic perspectives, sanctions, and the challenges Afghanistan is currently facing, as well as those Russia is dealing with. Technical discussions are underway,” Azizi said.
Azizi said Afghanistan’s annual trade with Russia stands at about $300 million and is expected to grow, especially in petroleum and plastics imports. Trade with China is currently about $1 billion per year.
“I am confident that this is a very good option…we can use this option for benefit and interests of our people and our country,’ Azizi said.
“We want to take steps in this area with China as well,” he said, adding Afghanistan had around $1 billion in trade with China each year. “A working team composed of members from the (Afghan) Ministry of Commerce and the Chinese embassy which is an authorized body representing China in economic programmes has been formed, and talks are ongoing.”
Sanctions have isolated Afghanistan’s financial sector since the Islamic Emirate took power in 2021.
Afghanistan began importing gas, oil, and wheat from Russia in 2022, marking a major economic move following the Islamic Emirate’s return to power.
Iranian President Masoud Pezeshkian has said that Tehran will facilitate trade and economic exchanges with Afghanistan, including easing procedures at customs and local marketplaces.
He made the remarks during a televised interview following his visit to South Khorasan province, which shares a border with Afghanistan.
Pezeshkian, in a separate event addressing local business leaders, highlighted the province’s strategic advantages, citing its rich mineral resources, proximity to neighboring countries such as Afghanistan and Pakistan, and access to the ocean via the Chabahar port. He described the region as “a golden opportunity not found everywhere,” emphasizing its potential for economic growth and cross-border commerce.
A Kazakh delegation led by the Deputy Minister of Finance of Kazakhstan met with Sediqullah Khalid, First Deputy Governor of Da Afghanistan Bank, to discuss ways of strengthening banking and economic cooperation between the two countries.
According to a statement issued by Da Afghanistan Bank, Khalid said the central bank is keen to establish regular and effective banking relations with Kazakhstan as part of broader efforts to expand bilateral trade.
He noted that enhanced banking cooperation would help facilitate trade, investment, and wider economic interaction between Afghanistan and Kazakhstan, while also contributing to financial stability at the regional level.
Members of the Kazakh delegation also emphasized the importance of developing banking and economic ties and expressed their readiness to expand joint cooperation.
The two sides further agreed to establish technical committees from both countries to hold expert-level discussions and advance practical steps for cooperation.
Business
Afghanistan, Kazakhstan envoys discuss expanding trade and regional connectivity
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
Afghanistan’s Ambassador to Pakistan, Sardar Ahmad Shakeeb, has met with Kazakhstan’s Ambassador to Pakistan, Yerzhan Kistafin, to explore ways to strengthen bilateral relations and advance regional cooperation.
The two envoys exchanged views on Afghanistan–Kazakhstan ties, regional connectivity, and major infrastructure initiatives, as well as the opportunities and challenges facing regional trade. Discussions also touched on Kazakhstan’s role in promoting regional stability and other matters of mutual interest.
Ambassador Shakeeb thanked Kazakhstan for its continued support and constructive engagement with Afghanistan, particularly in efforts aimed at peace and economic development.
He expressed hope that the proposed $3 billion joint trade agreement, once finalized, would bring tangible benefits to both countries and contribute to broader regional economic integration.
Ambassador Kistafin reaffirmed Kazakhstan’s support for stability and economic growth in Afghanistan, highlighting his country’s involvement in key regional connectivity and trade projects.
He said the current security and stability situation in Afghanistan has increased Kazakhstan’s confidence in expanding regional trade and transit, and praised the efforts of the Islamic Emirate in this regard.
He also stressed the need for coordinated regional efforts to ensure lasting stability, sustainable economic development, and the smooth movement of goods and transit across the region.
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