Kazakhstan and Afghanistan have agreed to develop cooperation in the banking sector and the 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 state, quasi-state organizations in the B2B, B2G format. Following the bilateral talks, Deputy Prime Minister - Minister of Trade and Integration 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 on increasing the supply of Kazakh oil products, flour, wheat, sunflower oil to the Afghan market on mutually beneficial terms.

Representatives of the two countries will also consider the issue of granting 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 Kazakh 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 transit and logistics issues.

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 promote the opening of permanent exhibition centers of Kazakhstani goods and services in the city of Herat and Afghan goods and services in Almaty or another city of the Republic of Kazakhstan. In order to accelerate 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 resolution of problematic issues.

In addition, the parties will promote the expansion of partnership relations between entrepreneurs by organizing trade missions and participating in exhibitions. Representatives of the two countries also agreed to facilitate the issuance of visas for businessmen of Kazakhstan and Afghanistan.