Iranian investors in Afghanistan given customs exemption

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Iranian investors in Afghanistan given customs exemption

Iranian businessmen who invest in Afghanistan and move their production lines to that country will receive customs exemption, Homayoon Rasa, Afghan minister of trade and industries said.

Right now 16 percent of Afghanistan’s needs are provided from Iran, he said, the Iranian Trade Development Organization’s Public Relations reported March 5.

“It will help Afghanistan’s economy if Iranians to launch production lines here because our country has cheap labor force as well as energy,” Rasa stated.

“Imbalance between the two countries’ imports and exports is a problems ahead. We expect Iran to help us by reducing customs tariffs for Afghanistan as a means to improve trade turnover.”

Iran’s export to Afghanistan stands at $3 billion, comprising 40 percent of Afghanistan’s total import. The exported goods include consumer goods such as detergents, food, construction material, fuel, drugs, wood, and plastic.

Afghanistan’s major exports to Iran are fresh and dried fruits, herbals, and saffron.

Iran and Afghanistan signed a trade contract worth $50 million last year.

Afghanistan is seeking to import one million metric tons per annum of gas oil from Iran. Iran is currently exporting 200 thousand metric tons of gas oil to Afghanistan, which is also seeking 200 thousand metric tons of LPG for which the price has to be settled.

Source: Azernews

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