Sunday, January 17, 2021

Massive Opportunities in Indian-Afghanistan Trade Relations

Indian-Afghanistan Trade Relations are on an upswing, despite few hiccups. The Afghanistan Chamber of Commerce and Industry stated that at present goods including carpets, fresh fruit and dried fruit and many other products, are being exported to India at vastly decreased rates.  

The Ministry of Finance of Afghanistan, in turn, responded by stating that Afghan-Indian trade relations are advancing and that the ministry is working on to boost joint initiatives with India’s Ministry of Finance.

The ministry said for goods headed towards India, exporters benefit from a 97% discount on customs tariffs – which is proving to be an enormous incentive to grow the export market to India. The ACCI also stated that India is also trying to decrease airport taxes for goods being exported to Afghanistan.

ACCI deputy chief Khan Jan Alkozai said: “At Present, most of the 41 goods being exported to India are not levied with customs duties and the Indian government is working on to decrease customs tariffs on their side.”

“We are trying to work with India for excellent business relations, especially in the customs sector,” said Abadullah Darman spokesman for the ministry of finance. Presently, the annual trade volume between India and Afghanistan is estimated at over $1 billion.

The ACCI says that with the development of trade between Afghanistan and India through Iran’s Chabahar port will also boost the business, and will hopefully rise to over $2 billion a year.

More News at EurAsian Times

Article Reference: Tolo News 

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