January 25, 2003	Saturday	Ziqa’ad 21, 1423

ISLAMABAD, Jan 24: A business delegation from Afghanistan on Friday said that since rules regarding establishing business in Afghanistan have been relaxed, Pakistani investors should explore investment opportunities in Afghanistan specially in the construction and agriculture sectors.

Now the business activities, the Afghan side said, was going comparatively fast.

The 35-member Afghan delegation was meeting Board of Investment chairman Waseem Haqqie, says an official announcement.

Talking about investment environment in Afghanistan, the Afghan delegation said that the law and order situation in Kabul was satisfactory and was improving in other cities as well.

The delegation said that government of Afghanistan has formulated new investment laws which protect foreign investment. Furthermore, World Bank has established a branch of its subsidiary—Multilateral Investment Guarantee Authority (MIGA)—to help encourage the potential investors by providing insurance cover.

The delegation said foreign investors will soon be offered incentives to make investment in new industrial zones in Afghanistan.

The Afghan side said that Afghanistan government has granted four, six and eight years tax holiday to the business of the small, medium and large industry, respectively to attract potential investors.

The BoI chairman assured all possible help in every field to the Afghan businessmen and stated that due to the efforts from both sides the volume of trade was increasing.

The Afghan transit trade issue is currently being discussed at higher level and would most probably be resolved in the near future.

According to an official announcement, both sides also discussed various proposals to enhance bilateral economic cooperation in different fields. They also discussed new proposals for further expanding trade relations.

The BoI chief said Pakistan has established a separate committee for strengthening Pakistan-Afghan economic relations.

The Afghan delegation reciprocated the same sentiments and appreciated the government of Pakistan for extending shelter and help to the Afghan refugees during difficult time.

Both sides also discussed issues like extension of credit and multiple entry visa to remove existing bottlenecks. In this regard the Afghan delegation was told that National Bank of Pakistan will soon establish its branch in Kabul.