The business circles of Kazakhstan and Afghanistan discussed the possibilities of expanding trade and economic cooperation at business talks in Astana. The parties are confident that our countries have significant potential for deepening partnership, El.kz reports with reference to the press service of the Ministry of Trade of the Republic of Kazakhstan.
Traditionally, Afghanistan is the leader among the importing countries of Kazakh flour and is one of the five largest consumers of vegetable oil of Kazakh brands. Mutual trade with Afghanistan at the end of last year 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, there are 52 joint ventures in Kazakhstan, mainly 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, ahead of 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 2021 data, 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 cereals, 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 tax on the purchase of equipment. Investors can open bank accounts, receive income tax benefits.
Afghanistan is most interested in investing in the energy sector, the construction of highways and railways, as well as telecommunications.
More than 150 Kazakh companies and over 200 representatives of the Afghan business community took part in the B2B negotiations organized by the operator for the promotion of non-commodity exports QazTrade.