Business
IEA tightens currency controls after dollar smuggling report
The Islamic Emirate of Afghanistan (IEA) imposed fresh restrictions on people carrying foreign currency out of Afghanistan, in a rare directive from the prime minister’s office.
The restrictions were imposed after a report published in Bloomberg stated that millions of dollars were being smuggled into the country each day from Pakistan.
Tuesday’s order from Mullah Mohammad Hassan’s office spelled out new currency limits clearly for the first time and laid out new punishments — up to a year in prison. While a $5,000 limit was already in place, the new edict added that the amount people could take out via road border crossings was now only $500 and barred the transport of gold or precious stones out of the nation.
“If someone transfers a million dollars, he will be imprisoned for a year, and for one hundred thousand dollars, he will be jailed for a month and for less than the amount, he will receive ten days in jail,” the edict said.
The IEA also reiterated that bringing in foreign currency is “prohibited,” without specifying how much and under what circumstances. Before the report’s publication, the Afghan Finance Ministry had said that it encourages individuals to bring in any value of foreign currency.
Bloomberg reported Tuesday that traders or smugglers are bringing as much as $5 million into Afghanistan from Pakistan every day, which was providing some support for the country’s squeezed economy after the US and Europe denied the IEA access to more than $9 billion in foreign reserves.
However, the illicit dollar inflow into the country is exacerbating a rapidly developing economic crisis in neighboring Pakistan.
Economic experts consider this work of the Islamic Emirate to be important for maintaining the financial stability and value of the afghani currency, and they say that governments have an obligation to support their currency value.
Business
Afghanistan and Iran discuss boosting trade and investment ties
Both sides agreed to follow up on the issues raised, improve coordination between relevant economic institutions and work towards removing barriers to trade.
Afghanistan and Iran have held talks on expanding bilateral trade, improving cross-border commerce and creating new investment opportunities for businesses in both countries.
The discussions took place during a meeting between a trade delegation from Afghanistan’s Kandahar province and representatives of the Iran-Afghanistan Joint Chamber of Commerce.
The Afghan delegation was led by Kamaluddin Tawhid, Chairman of the Afghanistan-Iran Joint Chamber of Commerce, who met with his Iranian counterpart, Mahmoud Seyadat, along with members of the chamber’s board of directors. Afghanistan’s Consul General in Mashhad, Noor Mohammad Mutawakkil, also attended.
The talks focused on strengthening economic cooperation, streamlining trade procedures at ports and border crossings, and encouraging joint investment by Afghan and Iranian companies.
Participants also raised several practical obstacles affecting commercial activities, including foreign exchange obligations, visa arrangements for Afghan truck drivers and the movement of Afghan freight vehicles through Iranian territory.
Tawhid highlighted Kandahar’s economic potential and investment opportunities across Afghanistan, urging Iranian businesses to play a greater role in the country’s economy.
He also pointed to investment opportunities identified by Afghanistan’s Ministry of Industry and Commerce, stressing the need for improved facilities for private-sector businesses and closer cooperation between the two countries’ commercial communities.
Both sides agreed to follow up on the issues raised, improve coordination between relevant economic institutions and work towards removing barriers to trade.
The meeting concluded with a commitment to strengthen commercial exchanges and expand trade and investment relations between Afghanistan and Iran.
Trade in goods and services between the United Kingdom and Afghanistan declined by 16.7 percent to £70 million in the 12 months to the end of June 2026, according to the latest figures published by the UK Department for Business and Trade.
The department’s trade and investment factsheet, released on November 6, shows that bilateral trade fell by £14 million compared with the same period a year earlier.
UK exports to Afghanistan totalled £57 million, down 18.6 percent or £13 million, while imports from Afghanistan stood at £13 million, representing a 7.1 percent decline.
The figures show that goods accounted for £32 million, or 45.7 percent, of total trade, while services made up the remaining £38 million, or 54.3 percent.
UK exports to Afghanistan included beverages, pharmaceutical products, dairy products, road vehicles and industrial machinery.
Vegetables and fruit were the leading Afghan goods exports to the UK, worth £1.7 million. Clothing and textile fabrics were also among the main products exported.
The report ranks Afghanistan as the UK’s 166th-largest trading partner, accounting for less than 0.1 percent of the UK’s total trade during the period.
Business
Afghanistan and Russia discuss expanding trade and investment ties
Both sides highlighted the importance of closer cooperation between the Afghan and Russian private sectors.
Afghanistan and Russia have discussed ways to strengthen bilateral trade, expand private-sector cooperation and attract new investment during a meeting in Kabul.
Inayatullah Sediqzi, Deputy Head of the Afghanistan Chamber of Commerce and Investment (ACCI) for Services, met with Russian Ambassador to Afghanistan Dmitry Zhirnov on the sidelines of an event marking Russia’s National Unity Day on Wednesday, November 4.
The event was hosted by the Russian Embassy in Kabul.
According to a statement from the ACCI, discussions focused on boosting economic relations, increasing bilateral trade and creating greater opportunities for businesspeople and investors from both countries.
Both sides highlighted the importance of closer cooperation between the Afghan and Russian private sectors, exploring new areas of economic partnership and establishing stronger direct links between their respective business communities.
The discussions reflect Afghanistan’s continued efforts to expand economic engagement with regional and international partners, with increased trade, private-sector development and foreign investment remaining key priorities.
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