Business
IEA welcomes World Bank report on Afghanistan’s economy

The Deputy Prime Minister for Economic Affairs of Islamic Emirate of Afghanistan (IEA) on Thursday welcomed the recent World Bank report on Afghanistan’s economy.
The office says that facts related to the country’s economic situation are reflected in the report.
Mullah Abdul Ghani Baradar’s office said in a statement that “the Islamic Emirate believes that if the international community pays attention to positive interaction instead of imposing restrictions, Afghanistan will progress further in the economic field and the burden of responsibility on the shoulders of the international community will be reduced.”
“If all international organizations such as the World Bank present a true picture of the concrete realities of Afghanistan, the way of positive interaction with the Islamic Emirate will be paved,” the statement read.
The World Bank report states that Afghanistan’s exports and imports have increased, monetary stability has been maintained, and domestic revenues have increased.
According to the report, during January to April 2023, imports stood at $2.4 billion, reflecting a 27 percent growth against the same period last year.
Iran remains the most significant import origin country (21 percent), followed by Pakistan (18 percent), China (16 percent), and the United Arab Emirates (13 percent), the World Bank reported.
However, the Jan-Apr 2023 merchandise trade deficit at $1.8 billion is 38 percent higher than the $1.3 billion observed in the comparable period of 2022.
Unofficial data for January to April this year indicates that Afghanistan’s customs show total exports reached $0.6 billion — a 4 percent rise compared to the same period in 2022.
The export growth during Jan-Apr 2023 can primarily be attributed to an increase in the exports of coal, by 13 percent, and textiles by 14 percent, the report stated.
Pakistan remains Afghanistan’s largest export market accounting for 63 percent of total exports, followed by India (26 percent). Exports to Pakistan are mainly food and coal. Coal exports to Pakistan amounted to $140.7 million in Jan- Apr 2023 – 13 percent higher than the coal exports in the comparable period last year.
Business
Members of private security meet with Kazakhstan counterparts

A bilateral meeting between members of the private sectors of Afghanistan and Kazakhstan was held in cooperation with the Ministry of Industry and Trade on Tuesday with the aim of attracting more investment in the country.
At the meeting, representatives of the private sector of the two countries discussed investments in various sectors including the non-alcoholic beverages sector, gemstones stones and minerals, chemical fertilizers, car batteries, clothing and textiles, petroleum products, flour and wheat, the ministry said.
They also discussed tourism, investment in restaurant businesses and food, the ministry added.
Furthermore, the businessmen and investors of Kazakhstan thanked the Afghans for their hospitality and described Afghanistan as a safe place and a suitable environment for business and investment.
Representatives of the private sector of Kazakhstan spoke about holding exhibitions in Kabul, Balkh and Kandahar provinces, adding that in the near future they plan to hold exhibitions of Afghan manufacturing industries in Kazakhstan and an exhibition of Kazakh products in Afghanistan.
Business
Female entrepreneurs at Kabul women’s market say businesses are doing well

A number of female entrepreneurs at the special women’s market in Kabul say their businesses are improving day-by-day and that they have also set up online shopping opportunities for women.
These women say they are happy to have their own market where they can sell their own goods.
“Our clothes are Afghani Gand (traditional dress). Our sellers and buyers are both women. We are happy that such a market has been established in Kabul,” said Ferozah Qasimi, a woman entrepreneur.
“The good thing about this market for women and girls is that they can easily and calmly use the green space here, relax their minds and buy the things they need from one place,” said another woman entrepreneur.
“My request to government and foreign institutions is to join hands with us, to cooperate with us so that we can make further progress in our work,” said another businesswoman.
Meanwhile, the Women’s Chamber of Commerce says there is no limit to women entrepreneurs.
“We are seeing very good developments in this chamber which is creating markets and creating expos,” said Salma Yousafzai, head of the Women’s Chamber of Commerce.
The Ministry of Industry and Commerce (MoIC) spokesperson Abdulsalam Jawad Akhundzada stated that the ministry supports businesswomen.
“The Ministry of Industry and Commerce has always supported women entrepreneurs and has always supported them in all aspects of trade and industry,” said Akhundzada.
“Thousands of women in 34 provinces of Afghanistan are actually working in various sectors of industry and investment,” he added.
Business
Foreign cash aid and tight restrictions on afghani helps ‘stabilize’ local currency

Billions of US dollars, flowing into Afghanistan, in the form of cash aid, is helping to stabilize the local currency so much that the AFN has been propelled to the top of the global rankings this quarter.
According to America’s Bloomberg news agency, the afghani (AFN) has maintained its value against foreign currencies, especially the US dollar, on the back of the cash aid and other factors.
Additional actions are also helping to stabilize the currency including the Islamic Emirate’s ban on the use of Pakistani rupees and US dollars on the local market, and an increase in cross border trade, Bloomberg reported.
Currently, the AFN is trading at just under 80 afghanis to the dollar.
The international community has shipped in on over $40 million dollars a week since the fall of the former government. This money is handled by the UN and used for aid in the country.
Bloomberg reported however that the cash aid and increased trade with Afghanistan’s neighbors has propelled Afghanistan’s currency to the top of global rankings this quarter — an unusual spot for a poverty-stricken country.
The IEA’s tight restrictions on taking dollars out of the country, banning online trading and imposing prison sentences on those who break the rules, have also contributed to this stability, Bloomberg reported.
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