Kazakhstan and Afghanistan agreed on cooperation in the banking sector and implementation of investment projects

07.08.2023
Kazakhstan and Afghanistan agreed on cooperation in the banking sector and implementation of investment projects

On the sidelines of the Kazakh-Afghan business forum in Astana, the delegation of Afghanistan held meetings with business representatives and government, quasi-government organizations in the B2B, B2G format. As a result of bilateral negotiations, Deputy Prime Minister - Minister of Trade and Integration of the Republic of Kazakhstan Serik Zhumangarin and Minister of Industry and Trade of Afghanistan Nuriddin Azizi signed a protocol of intent.

The parties agreed to make every effort to create favorable conditions for the business of our countries in order to bring the volume of mutual trade to $3 billion. Astana and Kabul will continue to work to increase the supply of Kazakh oil products, flour, wheat, sunflower oil to the Afghan market on mutually beneficial terms. 

Also, representatives of the two countries will consider the issue of providing preferential transport and transit tariffs through Afghanistan and Kazakhstan to each other. The parties expressed their readiness to work out alternative and more profitable routes for the delivery of products to the Kazakhstani and Afghan markets, as well as cooperation in the West-West format. 

To increase mutual trade, Astana and Kabul intend to study the issue of creating a trade and logistics terminal on the Afghan-Turkmen border and providing preferential conditions and services to both countries. In this regard, it is planned to hold trilateral negotiations with the participation of Kazakhstan, Afghanistan and Turkmenistan on issues of transit and logistics. 

Representatives of government and business circles expressed the need to develop a new transport, transit, trade and investment agreement between the countries.

Kazakhstan and Afghanistan intend to develop cooperation in the banking and telecommunications sectors, consider the possibility of implementing investment projects in the mining industry, agriculture and water management, energy, logistics, railways, healthcare, education and others.  

In addition, the parties will facilitate the opening of permanent exhibition centers for Kazakh goods and services in the city of Herat and Afghan goods and services in Almaty or another city of the Republic of Kazakhstan. To speed up trade and economic cooperation, an agreement was reached on the establishment of a Joint Chamber of Commerce and a Joint Committee for the Development of Trade and Economic Cooperation and the Solution of Problematic Issues.    

In addition, the parties will contribute to the expansion of partnerships between entrepreneurs by organizing trade missions and participating in exhibitions. Also, representatives of the two countries agreed to facilitate the issuance of visas for businessmen from Kazakhstan and Afghanistan. 

By the Kazakhstanskaya Pravda