KABUL, Nov 9: Ten Islamic, mostly Central Asian nations, met in Afghanistan on Wednesday to push their aim of slashing tariffs and freeing up trade in the region once spanned by the Silk Route.
Afghanistan, after decades of war and occupation, told the Economic Cooperation Organization (ECO) it hoped to become a “land bridge”, revitalizing the ancient trade route that linked Europe and the Far East.
The ECO comprises Afghanistan, Azerbaijan, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Turkey, Turkmenistan and Uzbekistan, which together make up six per cent of the world population, according to the organization.
Integration of the 10 ECO nations was essential to build up trade in the region, Afghan Commerce Minister Hedayet Amin Arsala told ministers, officials and other delegates at the two-day meeting in Kabul.
“It is only through regional cooperation and greater economic integration that we will be able to use the enormous resources that we have in the region for the betterment of the lives of our people,” he said.
The Afghan government wanted to establish “an open trade regime which would allow Afghanistan to capitalize on its position as a land bridge between the Central and South Asian region,” he said.
Afghanistan has the lowest tariffs among the 10 countries — on average just over four per cent — compared to Pakistan’s tariffs of up to 120 per cent.
Members had committed to cutting tariffs to no more than 10 per cent within 10 to 15 years, although some items may be exempt, said Afghanistan Investment Support Agency vice President Suleman Fatimie, an organizer of the meeting.
Central Asia’s proximity to rapidly growing markets such as China and India made clear the rationale for cooperation, said Asian Development Bank’s head for Afghanistan, Mr Brian Fawcett.
The transit of goods through the region was still hampered, with truckers and traders facing daily road closures and border restrictions, he said.—AFP
