Business
MoIC expects Afghanistan’s exports to reach $2 billion this year
The Islamic Emirate of Afghanistan’s (IEA) Ministry of Industry and Commerce (MoIC) officials say they are trying to increase the volume of Afghanistan’s exports to more than two billion dollars by the end of this year.
According to MoIC, Afghanistan’s export goods mainly include dry fruits, coal, handicrafts, especially carpets and sugarcane.
The ministry officials have added that they intend to draw investors’ attention to Afghanistan’s export items in regional and global expos.
“In the first nine months of this year, we were able to export more than one billion two hundred and fifty million dollars, and according to our plans, this year, Inshallah we will export two billion dollars,” said Abdul Salam Jawad, a spokesman for the MoIC.
“Our exports are continuing and we are sure that they will be more than two billion dollars,” he added.
However, the Afghanistan Chamber of Commerce and Investment (ACCI) says there are still problems transferring money through banks; therefore, Afghanistan has not been able to increase the volume of its exports.
“If the problem of banks is not solved at the global level, our trade and business will really face serious challenges,” said Khan Jan Alokozay, a member of ACCI.
Economic experts meanwhile have stated that there are problems in transferring money through banking systems, so the Islamic Emirate needs to focus on small and large private investments.
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.
The Ministry of Commerce and Industry said Thursday acting minister Nooruddin Azizi met with the leader of Russia’s autonomous republic of Tatarstan, Rustam Nurgaliyevich Minnikhanov, on the sidelines of a meeting in Kazan.
According to the ministry, Azizi met with Minnikhanov on the sidelines of the Kazan Forum – the 15th International Economic Forum of Russia and the Islamic World.
The two officials discussed bilateral trade relations, the establishment of the Russian Trade House in Afghanistan, the visit of Minnikhanov to Kabul, investment in electricity production, water transfer, mining, cultural and economic cooperation and other matters.
This annual meeting is held by Russia and the 14th round of this meeting was also held in the same country last year.
The main goal of the forum is to strengthen trade and economic, scientific and technical, social and cultural ties between Russian regions and the countries of Organisation of Islamic Cooperation (OIC), as well as to promote the development of the Islamic financial system institutions in Russia.
The National Statistics and Information Authority (NSIA) said on Wednesday that last year, the value of exports totaled $1.79 billion while imports totaled $8.57 billion.
According to NSIA, fruits accounted for the largest share of export items last year, totaling over $645 million.
Medicinal plants, minerals and vegetables were the next top three items respectively to be exported.
Meanwhile, petroleum and oil accounted for the largest portion of imported goods, totaling over $1.37 billion.
Another large portion of the total amount imported went to machinery, vehicles and parts. This totaled over $1.15 billion, followed by textiles, metals and metal products.
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