Kabul, 18 August 2024 (TDI): Uzbekistan and Afghanistan have signed agreements worth $2.5 billion to mark a historical milestone towards strengthening economic ties between the two countries.
This arrangement encompasses 35 Memorandums of Understanding (MoUs) that were signed during the ceremony in Kabul on August 17.
This multibillion-dollar arrangement includes 23 trade agreements valued at $1.1 billion and 12 investment agreements worth $1.4 billion in infrastructure, energy, agriculture, and manufacturing sectors among others.
The ceremony was attended by representatives from both countries with high-level officials such as Mullah Abdul Ghani Baradar Akhund the Afghan Deputy Prime Minister and Abdullah Aripov the Uzbekistani Prime Minister.
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Baradar expressed confidence, stating that it would bring new investment opportunities and trade as well as employment chances. Uzbekistan has been engaged in developing closer relationships with Afghanistan under its regional integration strategy.
The deal is important for Afghanistan which looks to exploit its geographical location as a bridge between Central Asia and South Asia.
The historical development comes a day after Mullah Hedayatullah Badri, met with the heads of Uzbekistan’s Kam Group and Ariel companies in his office in Kabul.
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During the meeting, the heads of Ariel and Kam Group firms expressed their keen interest in investing in the country’s mineral resources, mainly in the gas-rich Tooti Maidan Field in Jowzjan province.
Accordingly, the acting minister welcomed their interest, stating that the Ministry is committed to supporting both national and international investors.
Minister Badri emphasized that such investments are crucial for creating more job opportunities for the citizens and boosting the country’s economic growth.
