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US State Department confirms Afghan banknotes to be printed in Europe

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Cash-reliant Afghanistan is set to get new banknotes, that will be printed in Europe, as those in circulation crumble and disintegrate, the US State Department’s Spokesman Ned Price confirmed Wednesday.

Price said at a press conference in Washington that two transactions to pay to print Afghani banknotes has been facilitated by the US.

“These two transactions have been underway for several months now. Banks dealing with Afghanistan see any banking transactions originating from or going to Afghanistan as extremely high-risk,” he said.

‘The United States and our partners have been working hard with international banks to facilitate payment transfers from Afghanistan’s central bank to European printing companies where new banknotes would actually be produced.

“These companies will now prepare new afghanis, which will be used to replace worn-out banknotes. And this will address one of the aspects of Afghanistan’s ongoing liquidity crisis, consistent with U.S. efforts to support basic human needs and avoid an economic collapse,” he said.

He said the need for new banknotes was urgent and while “goods are available for sale, cash to purchase those goods is deteriorating, and the central bank with these transactions will be able to replace old and damaged banknotes.”

“And this will provide the Afghan people’s ability to purchase food and other necessary items. So it’s hugely important” he said. .

He added that this move is about the welfare and the well-being of the Afghan people. “They have suffered from the deterioration of these banknotes. Their largely cash-driven economy has been hamstrung by the lack of banknotes that are not crumbled or otherwise deteriorated.”

This comes after US Special Envoy for Afghanistan Thomas West announced a few days ago that the new banknotes would be printed.

No details as to where they will be printed have been given nor has anyone revealed when these notes will be put into circulation.

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Afghanistan raises import tariffs on several goods to support domestic industry

Under the new rates, the customs tariff on bottles has increased from 12% to 16%, while the tariff on construction paint has risen from 16% to 30%.

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Afghanistan’s Ministry of Finance says it has increased customs tariffs on several imported goods as part of measures aimed at supporting domestic production and industrial growth.

The ministry said the Tariff Committee approved the changes during its third meeting of the 1405 solar year.

Under the new rates, the customs tariff on bottles has increased from 12% to 16%, while the tariff on construction paint has risen from 16% to 30%.

Tariffs on leather footwear and plaster have each increased from 50% to 80%, while the rate on sanitary diapers has risen from 20% to 25%.

At the same time, the tariff on heart springs has been reduced from 8% to 3.5%.

The Ministry of Finance said customs tariffs on cement, iron pipes, refrigerators and raw materials used in carpet production are also under review.

According to the ministry, the tariff adjustments are intended to protect domestic industries, strengthen local production and create conditions for further growth in trade.

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Afghanistan-Kazakhstan trade reaches $581 million in six months

The latest discussions come as Kabul and Astana work on a bilateral economic cooperation roadmap, with the two countries aiming to increase annual trade to $3 billion.

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Trade between Afghanistan and Kazakhstan reached $581 million in the past six months, officials in Afghanistan’s western Herat province said.

The figure was discussed during a meeting between Herat Governor Noor Ahmad Islam Jar and a Kazakh delegation led by Yerkin Tukumov, Kazakhstan’s special representative for Afghanistan.

Tukumov stressed the need to expand transit capacity and remove customs barriers to facilitate increased trade between the two countries. He also invited Afghan officials to attend a joint economic meeting scheduled to take place in Kazakhstan.

Islam Jar highlighted Herat’s strategic location and security, describing the province as having significant potential to serve as a hub for investment and regional trade.

Afghanistan and Kazakhstan have previously discussed expanding trade in agricultural products, including Afghan agricultural exports in exchange for flour imports from Kazakhstan.

The two sides have also reached understandings on cooperation over the Torghundi-Herat railway project, which is intended to strengthen transport and trade links.

The latest discussions come as Kabul and Astana work on a bilateral economic cooperation roadmap, with the two countries aiming to increase annual trade to $3 billion.

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Ariana Afghan Airlines increases Kabul-Delhi cargo flights

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Ariana Afghan Airlines has increased cargo flights between Kabul and Delhi to facilitate the transportation of commercial goods and support Afghan traders.

In a statement issued Saturday, the airline said it will now operate two scheduled cargo flights daily on the Kabul-Delhi route, up from one flight per day previously.

The airline said Afghan traders and commercial companies can use the daily cargo services to transport their goods quickly, safely and reliably between Afghanistan and India.

Ariana Afghan Airlines said it is working to further expand and improve its air cargo services to support trade, meet the needs of Afghan traders and facilitate Afghanistan’s exports and imports.

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