Business
Saleh rejects SIGAR claims of cash being smuggled out through airport
Amrullah Saleh, First Vice President has rejected the Special Inspector General for Afghanistan Reconstruction’s (SIGAR) report over the smuggling of cash from the Hamid Karzai International Airport.
In his daily 6:30 am meeting, Saleh stated: “However a massive amount of foreign currency does exit Afghanistan’s porous land borders by cross-border networks.
“The report on the flight of foreign currency from Kabul airport is not correct and substantiated,” said Saleh.
Saleh added that a large amount of cash was flowing out of the country to Pakistan.
“The strict anti-money laundering regulations have created a dark parallel market. Let’s be real,” he emphasized.
Last week, SIGAR reported that the unchecked flow of cash out of Afghanistan still exits at the Kabul airport due to poor screening procedures.
According to the report, cash counting machines, which were funded by the US government, are not being used for the purposes intended and the only cash counting machine confirmed to be working is in the arrival entrance, instead of the departure area where strict cash controls are most needed to help prevent cash smuggling.
In addition, the machines lack connectivity to the Internet, which in turn prevents Afghan investigative authorities from tracking currency suspected of being laundered.
“The absence of fully functional and strategically positioned cash counting machines, and declaration forms in the VIP section along with the limited screening of VIP passengers – who are most likely to have large amounts of cash – severely limits the Afghan government’s ability to fully implement its anti-money laundering laws at the airport,” John F. Sopko, Special Inspector General for Afghanistan Reconstruction stated in the report.
Business
Baradar opens Fifth Imam Abu Hanifa International Exhibition in Kabul
Hundreds of Afghan and foreign companies are participating in the seven-day exhibition, with around 600 booths showcasing products across various sectors, including food, medicines, dairy products, construction materials, handicrafts, carpets, plastics and iron products.
Mullah Abdul Ghani Baradar Akhund, the Islamic Emirate’s Deputy Prime Minister for Economic Affairs, on Wednesday inaugurated the Fifth General and International Imam Abu Hanifa (RA) Exhibition at the Afghanistan International Exhibition Center in Kabul.
Speaking at the opening ceremony, Baradar said the exhibition is an important platform for showcasing Afghanistan’s economic potential, supporting domestic production, expanding trade relations and strengthening direct commercial ties with the region.
He said Afghanistan’s agricultural, industrial and commercial products, including fresh and dried fruits, can help strengthen trade relations and open new regional and international markets for Afghan products.
“Trade relations and commercial ties among the countries of the region and the world are based on an important principle of trade, namely comparative and absolute advantages,” Baradar said.
He added that every country has comparative or absolute advantages in producing goods and products, which he described as a key driver of regional and international trade.
Baradar also said the Islamic Emirate is working to rebuild Afghanistan’s economic foundations despite limited resources.
“The Islamic Emirate of Afghanistan is not only completing unfinished chapters in the country’s economic growth and development, but has also, with limited resources, initiated new chapters in rebuilding the country’s economic foundations,” he said.
Baradar highlighted the opening of the Wakhan Economic and Trade Road, saying the route would strengthen Afghanistan’s role in regional trade and transit.
“The Wakhan Economic and Trade Road has been opened. This road connects China with European markets through Afghanistan via the shortest route and transforms Afghanistan into a major hub for regional transit and trade,” Baradar said.
He added that major infrastructure would gradually be developed along the route in addition to generating transit revenues.
Baradar further said the Islamic Emirate’s efforts to improve regional connectivity are aimed at transforming Afghanistan’s borders into centers of economic cooperation.
“We are transforming our borders from points of threat into points of connection for strategic economic cooperation,” he said, describing regional connectivity as one of the Islamic Emirate’s top priorities.
Meanwhile, Nooruddin Azizi, the Minister of Industry and Commerce, called for mutually beneficial foreign investment in Afghanistan. He said the Islamic Emirate will not allow the country’s raw minerals to be exported in the future.
Hundreds of Afghan and foreign companies are participating in the seven-day exhibition, with around 600 booths showcasing products across various sectors, including food, medicines, dairy products, construction materials, handicrafts, carpets, plastics and iron products.
Business
Afghanistan, Belarus discuss expanding industrial and trade cooperation
Particular attention was given to companies producing tractors, industrial machinery, and equipment and vehicles used in the mining sector.
Afghanistan’s Minister of Industry and Commerce, Nooruddin Azizi, met with Belarus’ Minister of Industry during an official visit to the country.
The two sides discussed the establishment of manufacturing plants in Afghanistan, the regular organization of the Afghanistan-Belarus Business Forum, and follow-up on issues raised through the countries’ economic commission.
Belarusian officials expressed appreciation for Afghanistan’s participation in the country’s international industrial exhibition and voiced interest in expanding the presence of Belarusian manufacturing companies in Afghanistan.
Particular attention was given to companies producing tractors, industrial machinery, and equipment and vehicles used in the mining sector.
The second International Industrial Exhibition of Belarus is being held with the participation of around 500 companies from different countries. The exhibition has also attracted visitors from European and Asian countries.
Business
Afghanistan, Tajikistan seek stronger trade and investment ties
The two sides discussed increasing trade exchanges, establishing direct links between traders and investors, and organizing joint economic programs.
The heads of the chambers of commerce and industry of Afghanistan and Tajikistan have agreed to strengthen bilateral trade, promote investment and expand cooperation between the private sectors of the two countries.
Sayed Karim Hashemi, head of the Afghanistan Chamber of Commerce and Investment (ACCI), held an online meeting with Farhad Shah Rahman Alizoda, head of the Chamber of Commerce and Industry of Tajikistan, to discuss ways to expand economic ties.
The two sides discussed increasing trade exchanges, establishing direct links between traders and investors, and organizing joint economic programs.
Hashemi invited Tajik traders and investors to participate in the fifth Imam Abu Hanifa International Exhibition in Kabul.
Alizoda, meanwhile, invited an Afghan business delegation to attend a major trade and industrial exhibition in Dushanbe.
The two sides also stressed the importance of exchanging business delegations and developing long-term cooperation between the private sectors of Afghanistan and Tajikistan.
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