Signing of Memorandum of Understanding between Afghanistan Chamber of Commerce and Indian Chamber of Commerce to Expand Economic Cooperation

Afghan Voice Agency (AVA) - Kabul: The Association of Chambers of Commerce and Industry of India (ASSOCHAM) announced that the memorandum of understanding was signed in New Delhi between Saurabh Sania, Secretary General of ASSOCHAM, and Syed Mohammad Karim Hashemi, General Director of the Afghanistan Chamber of Commerce and Investment.

 

During the meeting, the country delegation led by Mr. Hashemi met with Nirmal Kumar Minda, President of ASSOCHAM, and a number of officials of this institution and discussed ways to expand bilateral trade, increase investments and strengthen cooperation between the private sectors of the two countries.

 

According to ASSOCHAM, the MoU was signed with the aim of strengthening institutional cooperation, establishing and developing business-to-business (B2B) relations, and providing more opportunities for expanding trade and investment between the country and India.

 

India has become one of the country’s most important trading partners in recent years. According to statistics from the Ministry of Industry and Commerce, the value of exports to India this year reached $755 million. This MoU can help further increase this volume of trade exchanges.

 

Syed Mohammad Karim Hashemi, President of the Chamber of Commerce and Investment of the country, emphasized in this meeting the need to use existing capacities to increase the country’s exports to India and attract Indian investments in various economic sectors. He also called for facilitating the visa issuance process for the country’s businessmen and establishing direct air and land routes between the two countries.

 

Nirmal Kumar Minda, President of ASSOCHAM, also referred to the historical and cultural relations between the two countries and expressed hope that this memorandum of understanding can expand the areas of economic cooperation and benefit the private sectors of both countries.

 

This memorandum of understanding is being signed while the country's Chamber of Commerce and Investment has previously signed similar memorandums of understanding with chambers of commerce of regional countries including Iran, Turkey, Uzbekistan and Pakistan. Officials of the country's Chamber of Commerce have expressed hope that by signing these memorandums, the ground will be prepared for increasing exports and attracting more foreign investments.