Afghanistan presented its trade and economic potential in Astana

The business circles of Kazakhstan and Afghanistan discussed the possibilities of expanding trade and economic cooperation at business negotiations in Astana. The parties are confident that our countries have significant potential for deepening partnership.

Traditionally, Afghanistan is a leader among the importing countries of Kazakh flour and is one of the five largest consumers of vegetable oil of Kazakhstani brands. According to the results of last year, the mutual trade turnover with Afghanistan amounted to about $ 1 billion.

«Afghanistan is an important and promising partner for Kazakhstan. We are interested in the comprehensive development of trade and economic cooperation. Today, 52 joint ventures operate on the territory of Kazakhstan, they are mainly represented in the field of trade», - Vice Minister of Trade and Integration of Kazakhstan Kairat Torebayev said at the opening of a number of business meetings.

Kazakhstan also attaches great importance to the import of Afghan goods. This year, the Trading House of Kazakhstan was opened in Herat. Cooperation with Afghan producers will contribute to the expansion of export-import supplies of goods.

In turn, Afghanistan is interested in finding business partners and the arrival of Kazakh investments. The upcoming Kazakh-Afghan business forum will be a good platform for discussing pressing issues of mutually beneficial cooperation and the implementation of joint projects.

«The Kazakh side provided an excellent opportunity for negotiations between our enterprises from various industries. Within the framework of business meetings, we can expand business ties, discuss needs, trade barriers, as well as the benefits of cooperation. I hope that the private sector of Kazakhstan and Afghanistan will be able to take full advantage of these opportunities», - said Azizi Nuriddin, Minister of Commerce and Industry of Afghanistan, anticipating the round of trade negotiations.

At a meeting with representatives of Kazakh business, the Afghan side presented its trade, economic and investment potential. According to data for 2021, 55% of Afghanistan's GDP is made up of services (banking, transport and logistics), 23% of GDP is accounted for by the agricultural sector.

The country exports grain crops, textiles (carpets), sugar, raw materials, dried fruits, fresh vegetables and fruits and other agricultural products.

According to representatives of Afghanistan, the country's authorities are ready to provide investors with attractive conditions for investment and various preferences for doing business. For example, foreign enterprises operating in the manufacturing sector and the mining industry are exempt from the tax on the acquisition of equipment. Investors can open bank accounts and receive income tax benefits.

Afghanistan is most interested in investments in the energy sector, the construction of highways and railways, as well as telecommunications.

More than 150 Kazakhstani companies and more than 200 representatives of Afghan business circles took part in the B2B negotiations organized by the operator for the promotion of non-primary exports QazTrade.