Taliban Strives for Economic Independence in Face of Global Financial Isolation

In a recent statement, the acting commerce minister emphasized the Taliban’s commitment to promoting self-sufficiency and fostering international trade and investment in Afghanistan. This comes at a crucial time as the country grapples with isolation and the suspension of certain humanitarian operations due to concerns surrounding restrictions on women’s rights.

In an interview with Reuters, he expressed plans to launch a national self-sufficiency program. His vision includes encouraging all government agencies to prioritize the use of domestic products and enlisting the support of mosques to bolster the consumption of locally made goods. “We are committed to supporting any product that contributes to our goal of self-sufficiency,” he affirmed.

He also mentioned that another aspect of their strategy involved enhancing trade and encouraging foreign investment.

“Those who were importing items to Afghanistan from abroad, they are asking us to provide opportunities for investing in Afghanistan and they want to invest here instead of importing from abroad,” he said.

He said that countries including Iran, Russia and China were interested in trade and investment. He said some of the projects under discussion were Chinese industrial parks and thermal power plants, with involvement from Russia and Iran.

Already facing a lack of formal recognition and sanctions hampering the country’s banking sector, investors are faced with growing security concerns after attacks on foreign targets in Kabul. 

An attack on a hotel catering to Chinese businessmen this month, which badly hurt several foreigners, could prompt some to re-think investing, a leading member of the Chinese business community has said.

Azizi said authorities were working to ensure security.

“We do our best for our businessmen to not come to harm. The attack hasn’t had any bad impact, (but) if it happened constantly, yes it might have bad impact,” he said, referring to the investment environment.

Azizi laid out a plan to develop industry by creating special economic zones on land previously used for US military bases. He said his ministry was presenting the plan to the administration’s cabinet and economic commission.

He added that foreign investors were showing interest in Afghanistan’s mining sector, which has been valued at more than $1 trillion. He said that an iron mine in western Herat and a lead mine in central Ghor province had seen 40 companies take part in an auction and that the results would be announced soon.

He said that a major contract signed with Russia in September for the supply of gas, oil and wheat would see the delivery of the items to Afghanistan in coming days.

The Taliban-led administration is facing increased isolation over policies in recent days restricting women from access to public life, including attending university.

An order barring female NGO workers has thrown the humanitarian sector, which is providing urgent aid to millions of people, into disarray, with some organisations suspending operations in the middle of the harsh winter.

Azizi did not comment on the new restrictions but said his ministry had allocated 5 acres of land for a permanent exhibition centre and hub for women-led businesses.

“We always support women investors,” he said.