Business
Three Afghan-Pakistan borders set to reopen for trade
Afghanistan and Pakistan have agreed to reopen three key border crossings for trade traffic between the two countries from Monday.
According to Pakistan media, the border crossings are Torkham, Chaman, and Ghulam Khan, which have mostly been closed since March as part of broad-based lockdown measures by both countries amid the ongoing Coronavirus pandemic.
Dawn news reported on Saturday that a notification issued late Friday night by the Pakistan Ministry of Interior stated: “I am directed to refer to this ministry’s letter of even no dated May 1, 2020, on the subject cited above and to convey that competent authority has approved management of Afghan transit/bilateral trade and pedestrian movement along Pak-Afghan border with effect from June 22.”
The notification stated the planned opening would be for import and export traffic and an “unlimited number of trucks will be allowed per day for both Afghan transit and bilateral trade: while ensuring all COVID-19-related standard operating procedures and protocols” are followed.
According to the report, trade traffic will be allowed to transit six days a week, except Saturday. On that day the borders will be open for pedestrian traffic.
“Saturday will be reserved for pedestrian movement only at Torkham, Chaman and Ghulam Khan border terminals”, the notification read.
Afghanistan’s Ambassador to Pakistan Atif Mashal, who confirmed to Xinhua news that the crossings would reopen for trade, said this means Afghan traders will be able to resume the export of their fresh produce.
“It is the peak time for Afghan exports of fresh fruits and vegetables as both are now ready for export,” Mashal said.
In addition, a Pakistani official in North Waziristan, told Xinhua, that officials of the two countries had agreed on procedures and regulations for the cross-border trade in view of the Covid-19 pandemic.
Officials reportedly agreed that truck drivers and all involved in the cross-border trade will follow strict standard operating procedures to contain the spread of the virus and that drivers will undergo tests at the quarantine centers established on both sides of the border.
This move comes just days after Afghan traders raised their concerns over the continued trade restrictions which they said had caused them huge losses.
Earlier this week, the Afghan Traders’ Union chairman, Omaid Haidari, told Anadolu Agency that the border closures had cost Afghan traders more than US$100 million.
He also stated that while Afghan traders had been barred from entering Pakistan amid the Coronavirus outbreak, Pakistan continued to export goods to Afghanistan.
Haidari said that hundreds of trucks loaded with fresh fruits and vegetables destined for Pakistan and India had been stranded for months at the main Chaman and Torkham border crossings.
Business
Iraqi intelligence report alleges oil smuggling network supplying Afghanistan and Turkey through Iran
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
An Iraqi intelligence report obtained by Sky News Arabia has revealed alleged large-scale crude oil smuggling operations from northern Iraq into Iran, where the oil is reportedly refined and later sold in regional markets, including Afghanistan and Turkey.
According to the report, shipments of crude oil are transported through land routes and unofficial trade channels into Iranian territory, where they undergo refining and processing before being re-exported to foreign markets.
The intelligence findings suggest that the alleged network is designed to bypass international sanctions and facilitate the movement of petroleum products outside official trade and financial monitoring systems.
The report further indicates that smuggling networks rely on informal transportation routes and cross-border commercial channels to maintain the collection, processing and distribution of oil products while avoiding regulatory oversight.
The revelations have raised concerns over cross-border smuggling, the loss of national resources and the potential impact of illicit oil trade on regional economies.
Security and political observers say the reported activities could put additional pressure on Iraqi authorities to strengthen border controls, monitor oil transportation routes and improve coordination with regional and international partners.
However, the allegations outlined in the intelligence report have not been independently verified, and further details about the networks involved, the quantities of oil transported and the scale of supplies reaching Afghanistan and Turkey remain unclear.
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
Business
$30 million pharmaceutical investment launched in Herat as new production line opens
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The foundation stone has been laid for three new pharmaceutical production blocks at Ovison Pharma in Herat, with an investment of $30 million, while the factory’s new serum and injectable production line has also been inaugurated.
The new production blocks will be constructed on a 3,000-square-metre site, with each facility planned to have five floors. Equipped with advanced machinery and designed to meet international standards, the expansion is expected to significantly increase the factory’s pharmaceutical production capacity.
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The expansion marks a significant step toward strengthening Afghanistan’s pharmaceutical industry, increasing domestic production and reducing the country’s reliance on imported medicines.
The investment is also expected to support the development of local manufacturing capacity and improve access to domestically produced pharmaceutical products.
Business
Afghanistan approves new foreign investment policy in bid to attract international investors
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
Afghanistan’s Economic Commission has approved a new foreign investment policy aimed at attracting international investors, improving investment opportunities and supporting the country’s economic growth.
The decision was made during the commission’s regular meeting, chaired by Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, at the Marble Palace on Monday.
According to the Deputy Prime Minister’s Office for Economic Affairs, the proposed policy was presented by a committee established under the leadership of the economic deputy office. Following a comprehensive review and consideration of the commission’s recommendations, the policy was approved.
The policy aims to regulate foreign investment activities, facilitate investment procedures, create a favourable environment for investors, ensure investment security and promote Afghanistan’s economic growth and development.
During the meeting, the commission also approved a proposal concerning the payment of fixed taxes by commercial import companies at the country’s customs offices.
Officials said implementing the proposal would create additional facilities and simplify procedures for importing businesses.
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
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