India, Afghanistan move to strengthen trade, economic ties

India and Afghanistan reviewed bilateral trade and economic cooperation and discussed measures to facilitate trade and deepen commercial engagement between the two countries, according to an official statement on Wednesday.

According to the Ministry of Commerce & Industry, the two sides discussed a range of issues, including trade facilitation and customs cooperation, visa facilitation for Afghan traders, banking and financial cooperation, and trade in pharmaceuticals and agricultural products.

They also discussed energy cooperation, investment and trade promotion, tariff concessions, cargo connectivity and port-related issues, it added.

In addition, both sides agreed to strengthen institutional cooperation and pursue follow-up action in the identified areas.

The measures include enhanced customs and data-sharing cooperation, greater regulatory cooperation in pharmaceuticals and agriculture, improved trade connectivity and promotion of investment and business-to-business engagement.

According to the ministry, the discussions took place at a virtual meeting of the India-Afghanistan Joint Working Group on Trade, Commerce and Investment.

It further said that officials from both countries, including representatives from commerce, industry, customs, regulatory authorities and diplomatic missions, participated in the meeting.

In the meeting, both sides reaffirmed their commitment to strengthening India-Afghanistan trade, commerce and investment ties.

They also agreed to maintain continued engagement on the issues discussed at the meeting.

Additionally, Union Finance Minister Nirmala Sitharaman met several world leaders in Asheville on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) Meeting and discussed the global economic outlook and India’s evolving growth trajectory.

In her meeting with Valdis Dombrovskis, Commissioner for Economy and Financial Affairs, European Commission, the two sides discussed further deepening of the India–EU Economic and Financial Partnership, including through the India–EU macroeconomic dialogue and the Trade and Technology Council (TTC).

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