Focus on ‘effectively utilising’ Chabahar port as Afghan minister begins India visit

New Delhi/Kabul: Afghan Industry and Commerce Minister Alhaj Nooruddin Azizi arrived in New Delhi Wednesday afternoon, kicking off the official visit of a high-ranking government delegation from Kabul with the aim of activating and effectively utilising the capacities of India-developed Chabahar Port in Iran and attracting and drawing more investments.

 

Welcoming the visiting minister, the Ministry of External Affairs (MEA) stated that advancing bilateral trade and investment ties is the key focus of Azizi’s visit.

Just ahead of the visiting delegation’s arrival in India, Afghanistan’s Ministry of Industry and Commerce stated that enhancing bilateral trade through the port will be a key agenda of discussions during Azizi’s visit.

“During this trip, the Afghan delegation, while visiting the Pragati Maidan International Exhibition, will meet with high-ranking officials of the Government of India, including the Ministers of Foreign Affairs and Commerce besides traders, investors, and honourable members of the private sector of the two countries. The focus of these meetings is to expand economic cooperation, facilitate trade relations, create joint investment opportunities, and strengthen Afghanistan’s role in the region’s transit routes,” read a statement issued by the Afghan ministry.

“This trip is evaluated as an important step towards strengthening economic and commercial relations between the two countries, and it is expected that its results will play a significant role in improving communications, boosting trade, and developing transit routes,” it added while stressing the need to effectively utilising the capacities of Chabahar Port in Iran.

Kabul is keen on facilitating transit of goods through India-developed Chabahar port in Iran, especially after increasing border tensions with neighbouring Pakistan which has resulted in massive losses for traders on both sides of the Durand Line.

Earlier this month, the Afghan media reported that amidst the rising Afghanistan-Pakistan tensions, the ruling Taliban regime wants to explore Chabahar port’s vast potential and sees it as a new “opportunity”.

The Afghanistan-Pakistan Joint Chamber of Commerce and Investment announced that due to the closure of border crossings for business by Pakistan, traders from both countries have so far suffered over $100 million in financial losses.

According to the Chamber, the ongoing situation has created a sense of uncertainty over the future of trade between the two countries, with both sides incurring significant daily losses in transit and commercial exchanges.

Afghan officials told Pajhwok media that Kabul wants to make use of the vast potential of Iran’s Chabahar port, which could help boost exports, facilitate transit and pave the way for the country to become a regional transit hub.

The Kabul Dry Fruit Exporters Union too stated that exports through Chabahar port are “currently running smoothly, with no problems in shipments to India”.

Director of the Office of the country’s Ministry of Commerce and Industry (MoCI) Mohammadullah Bakhtyar, while addressing a meeting on the port’s transit potential in Kabul, emphasised utilising Iran’s transit routes – particularly the Chabahar Free Economic Zone. He underlined the strategic importance, stating that it provided Afghanistan with access to open seas, reported Pajhwok.

Chabahar port offers Afghanistan access to the Persian Gulf and plays a vital role not only in reducing transport costs but also in increasing its trade with India, the Middle East, Central and South Asia, Africa, Europe, and America.

IANS

 

US Fed keeps interest rates unchanged, flags oil shock risks

Washington: Federal Reserve Chair Jerome Powell said the US central bank was keeping interest rates unchanged as it monitored the fallout from higher oil prices and broader uncertainty linked to...

Rupee hits record low of 92.63 amid firm dollar, import pressures

Mumbai: The rupee on Wednesday touched a fresh record low of 92.63 against the US dollar, amid a firming greenback and continued foreign fund outflows. At the interbank foreign exchange,...

Gold, silver fall up to 2 pc amid fading Fed rate cut hopes, geopolitical tensions

New Delhi: Gold and silver prices declined on Monday amid fading hopes of a near-term interest rate cut by the US Federal Reserve, while escalating tensions in West Asia kept...

Cyrus Mistry says won’t take up chairmanship of Tata Sons

Jan 5, 2019 New Delhi:  In a major turn in the Tata-Mistry saga, Cyrus Mistry on Sunday said that he would not take up the chairmanship of Tata Sons or...

Tata Motors produced zero Nanos in 2019, sold just one

Jan 7, 2020 Mumbai:Tata Motors did not even produce a single unit of its entry-level offering, Nano, during 2019, while it managed to sell just one unit during the year....

Growth estimate subdued, can force fiscal stimulus in Budget

Jan 7, 2020 New Delhi: The government on Tuesday forecast 5 per cent growth for the current financial year, which is the slowest pace in 11 years, and may force...

‘Lack of credit, lower consumption led India’s growthrate to 5%’

by Arul Louis Jan 9, 2020 United Nations: The World Bank says that a lack of credit and drop in private consumption have led to a gloomy growth outlook for...

December auto sales decline by over 13%

10, 2020 New Delhi: The domestic automobile sales continued to decline in December with the overall sectoral off-take plunging 13.08 per cent on a year-on-year basis, data showed on Friday....

Amazon CEO Bezos’s India visit crucial as ecommerce space gets fierce

Jan 10, 2020 New Delhi: As the Indian ecommerce market enters into an interesting phase with Reliance firming up its mega plans with launching JioMart, Amazon Founder and CEO Jeff...

Star unicorn Oyo shuts door on employees in India, China

Jan 13, 2020 New Delhi: Ritesh Agarwal-led Indian hospitality unicorn Oyo, currently the second top unicorn after Paytm and valued at nearly $10 billion in the country, has acted tough...

US ends China’s designation as currency manipulator

Washington: The US has dropped its designation of China as a "currency manipulator", just two days before the two countries were scheduled to sign an agreement at the White House...

Amazon to invest $1 bn to digitise Indian SMBs: Bezos

Jan 15, 2020 New Delhi: In a major announcement showing Amazon's support for Indian MSMEs, CEO Jeff Bezos on Wednesday said that the company would invest $1 billion in digitising...

Read Previous

FIFA World Cup Qualifiers: Curacao becomes smallest country to qualify

Read Next

Delhi’s Khan Market remains India’s most expensive retail location, ranks 24th globally

WP2Social Auto Publish Powered By : XYZScripts.com