Economy of Afghanistan
The economy of Afghanistan, Twenty years later, the Taliban took over Afghanistan. US President Joe Biden has defended the US withdrawal from Afghanistan, saying he stands by his decision.
What will happen to Afghan trade and economy due to
ongoing unrest? Who creates the resources necessary for their survival? According to a World Bank report, even before
the Taliban took power, foreign business investment in Afghanistan was weak due
to security concerns.
Now the economic
prospects look even more dangerous. Afghanistan is a landlocked country and its
imports and exports are via Pakistan or Iran. India is one of the largest
trading partners in the country.
In 2020-21, India's exports to Afghanistan were
approximately 25 825.78 million and imports 50 509 million. Top exports include
sugar, tobacco, pharmaceuticals and textiles, and apparel.
While importing
fruits and nuts, gums, and resin. And coffee, tea, and spices. India's Chabahar
port project in Iran has served as a key access point to Afghanistan.
It ignored Pakistan and gave India access to the sea and
land in Afghanistan and Central Asia. Afghanistan also signed a transit
agreement with India and Iran to complete the port project.
Even the US
government supported the port and considered it a strategic plan for the
development of Afghanistan. Now, the future of the Chabahar port project is
under a cloud of uncertainty.
However, some officials believe that the negative effects
on trade could be temporary. He says as conditions improve, the trade will return
to normal.
The Taliban do not want the Afghan economy to collapse.
They want normal trade to continue so that the economy can survive, "one
expert told Business Line. Exports will definitely enter the country.
Meanwhile, the
Federation of Indian Export Organizations has advised exporters to cover their
payment risks through credit insurance.2:47
Afghan
economy, carpet exports hit by US sanctions
There is
silence in this carpet bazaar of Mazar-e-Sharif. The place resonated
with tourists and people eager to buy traditional Afghan carpets.
But now shopkeepers are struggling to find buyers.
Due to which the business has slowed down,
there is no activity and there are not many sales. The purchase of Saudi
carpets has been one of Afghanistan's largest exports in recent
years. But since the Taliban took over Afghanistan, its assets in the UnitedStates have been frozen.
And with the closure of these borders, the
banking system is now closed. At the same time, the decades-long war has left
the carpet and drug industry in its worst crisis.
Afghan carpets have always been
attractive around the world. The intricate designs reflect ethnic and cultural
diversity. And they are proudly displayed by the merchants to make good
profits.
But many men
and women spend a lot of time weaving carpets and rugs by hand. They face
uncertainty.
Anna
Muhammad has been a refugee in Pakistan for decades. On the outskirts of Mazda
Sharif, he finally thought he would be able to take care of his family.
This is very
important to us. It is our only source of income. There are no employment
opportunities here. He makes Hazara rugs for his daughter and pays for her
education. And she hopes to save some money when she goes to university.
I want to be a doctor but things are changing
and I hope that one day when I graduate I will get a real job. But for now, I
enjoy her handmade and her family.
This
industry has been going on for many generations. Even business was booming.
That foreign clients are willing to pay more for wool and silk carpets and
rugs. Our main problem is the borders that are closed. And the bank too, that's
why we can't export.
And we have
none. Currently, cash to pay providers. Although no one is looking at the shop.
He hopes the borders will open soon so that
they can resume exports. But until then, Saeed has no choice but to continue
praising his art and many stories.
It tells of
men and women, old and young, who worked for months and years to make it great.
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