The business community of Afghanistan and India feels the need for creation of a joint private sector body in the form of a joint Chamber of Commerce and Industry to strengthen bilateral economic relations in all its aspects.
In accordance with this objective, The Afghanistan Chamber of Commerce & Industries (ACCI) and the Federation of Indian Chambers of Commerce & Industry (FICCI) have agreed to set up an Afghanistan-India Chamber of Commerce and Industry (IACCI) to provide a common officially recognized platform at the apex level for promotion of economic activities between businessmen and industrialists of the two countries.
The objective of this Chamber are to further the development of bilateral economic relations by providing a regular forum for businessmen of both countries to meet, discuss and explore business opportunities in trade, investment, transfer of technology and furtherance of all other economic activities. It will also be the platform for business/Government interaction in the respective countries.
Based on the MoU, both parties agreed to; Exchange of information pertaining to Government policies and rules and regulations concerning trade, investment and other related areas between the two countries, Identify bottlenecks in the expansion of bilateral economic cooperation and recommend ways and means for removal of irritants to the respective Governments; Cooperate to increase trade, investment, technology transfer, infrastructure development and other such areas which are jointly identified from time to time to enhance economic cooperation; Support and encourage participation by the business community in exhibitions and trade fairs to be held in Afghanistan and India.
The IACCI will have Co-Chairpersons from both India and Afghanistan nominated by ACCI and FICCI. The Executive Committee of the Chamber shall comprise of 10 members each from Afghanistan-India including the Co-Chairs. They are nominated by ACCI and FICCI.
Mr. Khan Jan Alkozai, Senior Vice-Chairman of ACCI and Mrs. Jyotsna Suri, President of FICCI signed the MoU in parallel of visiting of President Mohammad Ashraf Ghani to India and his meeting with business community of two countries on 29 April 2015 at Oberoi Hotel, New Delhi.
By the business meeting, H.E. President warmly invited Indian investors to come to Afghanistan and invest at major sectors such infrastructure development, power generation, telecommunication, railway and food processing.
President Mohammad Ashraf Ghani also mentioned the obstacles facing foreign investment in Afghanistan such as corruption, not-implemented of economic policies yet, weak purchasing of power of people, not security of capital, lack of insurance and weakness of banking. He pledged Indian investor that the National Unity Government is determined to overcome the challenges. For example; he underlined that already has created the National Procurement Council to assess government tenders toward transparency.
His Excellency also urged Indian business organizations such FICCI, CII and ASSOCHAM to work together with ACCI as main business partner and in coordination with government bodies to pay the ways in attracting Indian investments to Afghanistan.
Additionally, President emphasized on organizing business forums between business community of two countries specially in Kabul, development of SMEs of Afghanistan and capacity building of government as well as private sector of Afghanistan by the Indian business organizations. He also pledged to provide investment facilitation for Indian people like distribution of land in industrials parks.
During the business meeting, Mrs. Jyotsna Suri, President of FICCI, Mr. Deepak Amitabh, Chairman and Managing Director of PTC India Ltd in representing of CII and Mr. S C Agarwal, Chairman of ASSOCHAM, each after another delivered their speech and highlighted the major projects have done for development of Afghanistan’s economy and also emphasized on further economic cooperation toward enhancing business relation of two countries.
Please click here and find out photos of the business meeting.