KABUL, AFGHANISTAN – Afghanistan and Turkmenistan companies have signed over 10 contracts and two Memorandums of Understanding (MoUs), totaling more than $200 million.
In a statement on Tuesday, May 7, the Taliban Ministry of Industry and Commerce said that the contracts were signed during a trip of a Turkmen business delegation to western Herat province on Monday.
These agreements cover a range of sectors, including construction materials like steel bars, repair paints, marble, and food products.
The ministry further stated that Nouruddin Azizi, the Taliban Minister of Industry and Commerce, the group’s governor of Herat province, and the chairman of the union of traders and industrialists of Turkmenistan oversaw the signing of the two MoUs and over 10 contracts.
“There is excellent opportunity for the expansion of trade and economic relations between Afghanistan and Turkmenistan, which both sides should take full advantage of,” Azizi said at the signing ceremony of these contracts.
The Taliban Minister of Industry and Commerce urged Turkmen traders and industrialists to invest more in Afghanistan.
According to the local media outlet TOLOnews, Turkmenistan delegates showed interest in importing marble, paint, and steel rods from Afghanistan.
The media outlet quoted a member of the Turkmenistan private sector delegation who said, “The aim of our visit is to tour the marble factories and building material production plants. We want to closely inspect Afghanistan’s products and import the goods Turkmenistan needs from Afghanistan’s offerings.”
These business deals between Afghanistan and Turkmenistan traders are being signed amidst a significant economic and humanitarian downturn in Afghanistan following the Taliban’s takeover of the country.
Last October, in a report, the World Bank warned about economic uncertainty in Afghanistan, highlighting a lack of growth prospects.
Melinda Good, World Bank Country Director for Afghanistan, said the economy is in a fragile state, heavily reliant on foreign support, and its private sector is weak. “To recover, the country needs to prioritize spending on human capital, basic services, and climate resilience and address harmful gender policies,” she added.
On the other hand, the humanitarian situation in the country has deteriorated significantly, marking it as one of the world’s most critical crises. The UN estimates that this year, over two-thirds of Afghanistan’s population requires humanitarian aid, with a significant portion being women and children.
