Kabul seeks extended economic ties with CAREC nations

Tuesday, 12 September 2017 03:17 Written by  Heart of Asia Published in Economy Read 159 times

The Ministry of Finance (MoF) on Sunday said Afghanistan plans to extend its economic cooperation with Central Asia Regional Economic Cooperation (CAREC) nations. 

 

Finance ministers from 11 CAREC member nations are currently holding talks in China where they will focus on a wide range of issues pertaining to extended economic, trade and transit relations in the region. 

The delegations will also focus on the implementation of key economic projects in the region, said Afghan finance ministry spokesman Ajmal Hamid Abdul Rahimzai. 

The delegations will also reportedly focus on the coordination between Asian Development Bank (ADB) and The Asian Infrastructure Investment Bank (AIIB) which is aimed at boosting economic cooperation in the region. 

The Asian Infrastructure Investment Bank is willing to work in Afghanistan in coordination with the Asian Development Bank, said MoF spokesman Ajmal Hamid Abdul Rahimzai. 

The CAREC Program is a partnership of 11 countries and six multilateral development partners working to promote development through cooperation, leading to accelerated economic growth and poverty reduction.

“The Central Asia Regional Economic Cooperation Institute will work on some key economic, commercial and transit projects in the region, this is not only helpful for Afghanistan, but helpful for the entire region,” said Rahimzai.

Meanwhile, officials from Afghanistan Chamber of Commerce and Industries (ACCI) said Chinese investors are also willing to invest in Afghanistan. They called on government to take action and pave the way for foreign investors to invest. 

“China is willing to invest in Afghanistan and government should not lose this opportunity; government should work on programs which can attract the private sectors investment,” said  Tawfiq Dawari, deputy chief of ACCI.

This comes a week after the Chinese ambassador to Afghanistan visited some border districts of northern Badakhshan province where he pledged to start a number of key projects in the region.

The CAREC Institute provides knowledge and relevant training to all CAREC partners in support of effective regional cooperation and coordination, and promotes access to and application of international best practices in all CAREC initiatives.