Kazakhstan, Afghanistan talk boosting bilateral trade
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As the country lies on the verge of economic collapse, Afghanistan could dodge that bullet by partnering with Kazakhstan on trade.
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Kazakh Trade and Integration Minister Bakhyt Sultanov during a press conference
Kazakhstan's delegation, headed by Trade Minister Bakhyt Sultanov, has visited Afghanistan to discuss bolstering trade and economic partnership between the two countries.
According to the Kazakh Ministry of Trade, Sultanov met with Afghan Deputy Prime Minister Abdul Salam Hanafi, Foreign Minister Amir Khan Muttaqi, and acting Commerce Minister Nooruddin Azizi.
"The Kazakh delegation assured [the Afghan side] that our country is interested in preserving and increasing the current level of bilateral trade through the volumes as well as the list of [traded] products," a ministry statement read.
Nur-Sultan highlighted that Kazakhstan had been a traditional supplier of grain and flour to Afghanistan, making for more than 50% of its flour exports, with more than 10% of grain exports marked exclusively for the Afghan market.
Minister Sultanov touched on the bilateral opportunities for expanding the list of traded items, saying the potential exports to Afghanistan add up to 45 commodities which amount to $360 million.
"Both sides noted that inclusion of these products in the bilateral trade will benefit both Kazakhstan and Afghanistan, as well as facilitate the growth of bilateral trade. Also, the representatives of Kazakhstan expressed readiness to purchase Afghan fruit and vegetables," the statement added.
The delegation underscored the importance of balancing Kazakh-Afghan trade, citing potential industrial cooperation as a possible solution to bolstering economic ties.
As Afghanistan lies on the verge of an economic collapse, Islamic countries assembled earlier this month in Pakistan to find means to aid Afghanistan in circumventing said catastrophe following the US withdrawal that ended a 20-year occupation of the nation.
Since the Taliban took control of Afghanistan in mid-August, the World Bank and the International Monetary Fund have suspended financial aid that previously accounted for nearly 75% of the country's public spending, while the US has frozen billions of dollars in assets belonging to the Afghan Central Bank.
An economic collapse would have a "horrendous" global impact, the countries that attended the summit concluded with an initiative by the Organization of Islamic Cooperation to organize a fund that would provide humanitarian aid by the Islamic Development Bank.
