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Domestic production may boost national economy


KABUL: In an attempt to find new markets for domestic products, 104 local companies exhibited their products at an expo in Kabul under the name of “It is the best, it is Afghan”. Members of the Afghanistan Chamber of Commerce and Industries (ACCI) said research was needed to find out exactly what people need in terms of products, so as ... Read More »

Ministry to deliver 10,000 tonnes of seed to farmers


KABUL: Officials from the ministry of agriculture and irrigation on Thursday said that it will distribute 10,000 tons of improved seed to Afghan farmers this year in order to help local farmers harvest better crops. They said that in addition to the seed, fertilizers will also be provided to the farmers. Afghanistan needs nearly 60,000 tons of seed annually, but ... Read More »

Road transit links still a headache for Afghanistan


KABUL: The Ministry of Transport has said in the last solar year only 19 truckloads of goods were transported out of Afghanistan in accordance with the Convention on International Transport of Goods Under Cover of TIR Carnets (TIR Convention). The ministry also said Afghanistan has played only a minor role in transporting goods to World Road Association (WRA) member countries ... Read More »

Torkham closure racks up $3b USD in losses for Pakistan


KABUL: Afghanistan Chamber of Commerce and Industry (ACCI) said on Saturday Pakistan lost $3 billion USD in exports by closing Torkham crossing. Officials at the ACCI said that at the moment Iranian, Turkish and Indian products are increasingly replacing Pakistani products on local markets. “Pakistan has damaged years of work to secure access to Afghanistan markets and central Asia because ... Read More »

Domestic economy grows by 2% in 1395: CSO


KABUL: The Central Statistics Organization (CSO) on Monday said in the first nine months of 1395 the country’s economy increased by more than two percent and the trade deficit balance dropped considerably. According to CSO statistics, export increased by eight percent and imports decreased by 19 percent in 1395. “Statistics show that Afghanistan’s economy is growing and if it continues, ... Read More »

Germany to inject 20m euro into afghan jobs program


KABUL: The Ministry of Rural Rehabilitation and Development (MRRD) on Thursday announced that Germany is set to inject nearly 20 million Euros into Afghanistan’s National Employment Program. MRRD officials stated that in addition to Germany’s aid, the ministry also plans to invest $20 million into the development projects that will be established in villages. “The 20 million Euros will be ... Read More »

Afghan banks post afs 930m annual loss


KABUL: The Central Bank of Afghanistan (CBA) on Wednesday said that local banks in the country posted a AFs 930 million loss for last year. A CBA spokesman said last year the banking system in the country was quite stable compared to a year before, but added that majority of the financial losses were incurred by three major banks. Some ... Read More »

Afghan high economic council plans chamber of commerce for women


KABUL: The high economic council has announced that a women’s chamber of commerce and industries will be established in the near future to help the businesswomen expand their economic activities. Businesswomen have warmly welcomed the initiative, saying the government needs to take more actions to economically empower Afghan women. The lack of an appropriate strategy for capacity-building among the businesswomen ... Read More »

Torkham closure bad for currency exchange in border provinces


KABUL: The closure of the Torkham crossing has led to currency exchange losses for residents and businessmen in provinces located along the Durand Line, local businessmen and residents said. They said businessmen in the provinces are forced to buy goods using Afghani currency while selling them in Pakistani rupees. “We are selling goods with Pakistani rupees but we buy them ... Read More »

Fragility in mines ministry affects national economy: Watchdog


KABUL: The Natural Resources Monitoring Network said on Wednesday that if the absence of a full-time minister and the consequential fragility of the Ministry of Mines are not addressed, it would have negative repercussions for economy of the country. The network said nothing from Afghanistan was displayed at the Prospectors and Developers Association of Canada (PDAC) 2017 Convention held in ... Read More »

Gov’t asked to control market prices amid border tensions


KABUL: Most of the potatoes cultivated from domestic sources are being exported abroad due to lack of storage facilities in Afghanistan during the cultivation season, the Chamber of Commerce and Industries (ACCI) said on Wednesday. This forces Afghanistan to import potatoes from Iran and Pakistan during other seasons. ACCI says one of the main reasons for the potato price hike ... Read More »

Rise in Chaharmahal non-oil exports


KABUL: Non-oil exports from Chaharmahal-Bakhtiari Province in southwest Iran exceeded $96.7 million during the 11 months to February 18, registering a 24% increase compared with the corresponding period of last year, the head of Chaharmahal-Bakhtiari Industries, Mines and Trade Organization said. “We export goods to 18 countries, namely the Netherlands, Brazil, Romania, Tajikistan, Poland, Georgia, the US, Kyrgyzstan, Turkey, Pakistan, ... Read More »

Afghan held for smuggling 114 kgs corals at IGI airport


KABUL: An Afghan national has been arrested for allegedly trying to smuggle in 114 kgs of corals at the Indira Gandhi International Airport (IGIA) here. The accused was intercepted by customs officials after his arrival from Kabul on Monday. “On personal and baggage search, organ pipe coral species weighing 114 kgs were recovered from the passenger,” a press release issued ... Read More »

Afghanistan to be off banking gray list in month


KABUL: The Central Bank of Afghanistan, the country’s state-owned bank, has said Afghanistan has addressed all the requirements of the Financial Action Task Force (FATF) and it will be taken off the gray list of the organization within a month. By been taken off the list, Afghanistan’s financial system will gain credibility in the world and all banks in the ... Read More »

Pakistan’s cement exports to Afghanistan decrease from 0.174 to 0.166mt


KABUL: Pakistan’s export of cement to Afghanistan has decreased from 0.174 million tons to 0.166 million tons during of January 2017, compared to the corresponding period last year, Pakistani media reported on Monday. This represents a 4.5 percent drop. Industry stakeholders expressed their concerns over the drop in overall exports to Afghanistan that have declined by 10.88 percent in the ... Read More »

Cement exports to Afghanistan declines 4.5% in January 2017


LAHORE: The cement exports to Afghanistan decreased to 0.166 million tons during the month of January 2017 from 0.174 million tons of corresponding period, showing a decline of 4.5 percent. However, exports to India registered a healthy increase from 0.049 million tons in January last year to 0.861 million tons during the same month this year, showing growth of 77 ... Read More »

Herat mines’ income falls by 50%


KABUL: The income of the Herat Directorate of Mines and Petroleum’s has decreased by 50 percent due to a considerable fall in the export of semi-processed minerals from the province – particularly marble stone – for the past two years. The yearly income of the department was 107 million Afs in 2011, mostly generated from mineral resources extraction of marble ... Read More »

Afghanistan, Iran trade at $2.8b


KABUL: Afghanistan imports $2.8 billion worth of goods from Iran every year, said Nasir Ahmad Noor, Afghan envoy to Iran. “If oil exports are excluded, Afghanistan would be Iran’s biggest export destination,” Nasir told the Iranian news agency IRNA. “A third of Afghanistan’s domestic demand for goods from Iran enters the country through the Dogharoun border terminal located in the ... Read More »

Afghanistan, Italy sign grant agreement worth €4,000,000


KABUL: Eklil Hakimi, Minister of Finance and Roberto Canton, Ambassador of Italy signed a grant agreement of Euro €4,000,000 to reduce maternal and child mortality in the presence of Ferozuddin Feroz, Minister of Public Health here yesterday, a statement from Ministry of Finance said. Minister of Finance reiterated the importance of this project and thanked the Italian government and its ... Read More »

Afghainstan to develop national strategy for export expansion


KABUL: Officials in the Ministry of Commerce and Industries (MoCI) at a session on Monday said the ministry will develop a National Strategy for Export Expansion with the help of the World Trade Organization and the European Union aimed at reducing balance deficit. The commerce and industries minister, Humayun Rasa, said the strategy will be made in consultation with the ... Read More »