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Business & Economics
US team in Kabul to assess investment climateBy Abdul Qadir Siddiqui Feb 13, 2012 - 19:16
KABUL (PAN): A 12-member delegation of US entrepreneurs, led by Under Secretary of Commerce for International Trade Francisco Sánchez, arrived in Kabul on Monday to assess investment opportunities in Afghanistan.
An end to the US military mission in 2014 did not mean a halt cooperation with Afghanistan, Sánchez told a press conference. “The US will remain committed to economic support for Afghanistan,” the official promised.
He said the 12 investors accompanying him would hold meetings with their Afghan counterparts and traders to assess the investment climate in the country.
The delegates had been investing in the transport sector, food items, construction, mine extraction machines and mine development, he added. “On my return to the US, I will encourage more investors to come to Afghanistan.”
Afghanistan Chamber of Commerce and Industries Chief Executive Khan Jan Alokozai voiced support for the visiting delegation’s plans, saying that Afghanistan needed foreign investment in various sectors.
He said the chamber would introduce Afghan investors and traders with enough skills and capital for launching joint ventures with their American counterparts.
Afghanistan’s annual exports to the US accounted for $50 million, with carpets constituting a major portion of the products, Alokozai said. Imports from the US had reached $250 million a year, he concluded.