Kabul — Business representatives from Afghanistan and Iran have signed 28 memoranda of understanding worth a combined $451.8 million during a trade networking conference. According to TOLOnews, the event was organised by the Afghanistan Chamber of Commerce and Investment.
The conference discussed cooperation between private businesses in the two countries on goods trading, joint investment, energy and manufacturing projects. Chamber president Sayed Karim Hashemi emphasised the need to turn investor contacts into practical business ventures.
If the memoranda become viable projects, they could create opportunities for trade and local employment. Banking restrictions, access to capital, customs procedures and transport costs may nevertheless affect the pace of implementation.
The announced total of the memoranda should not be described as foreign direct investment already received, money already paid or completed commercial transactions.