The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has signed a Memorandum of Understanding (MoU) with the Afghanistan Chamber of Commerce and Investment (ACCI) to enhance trade relations and promote stronger economic cooperation between India and Afghanistan. The agreement aims to expand collaboration between the private sectors of both countries while exploring new opportunities in investment, manufacturing, and natural resource development. The partnership is designed to provide a structured platform for businesses from India and Afghanistan to connect and identify potential areas of mutual growth.

Speaking after the MoU signing ceremony in New Delhi, ASSOCHAM President Nirmal Kumar Minda said the agreement would help strengthen the long-standing commercial relationship between the two nations. He highlighted that India and Afghanistan share centuries-old ties and expressed confidence that the new partnership would help increase bilateral trade.

Minda noted that current trade between the two countries stands at around $1 billion, although it has declined slightly compared to the previous year due to regional disruptions and global challenges. He said efforts would now focus on increasing trade activity and creating more business opportunities. Under the agreement, both chambers will conduct regular online discussions to understand market requirements, identify investment possibilities, and encourage greater participation from entrepreneurs and industries. The initial phase will involve digital meetings over the next few months to assess interest among businesses on both sides.

The two organisations are also exploring the possibility of sending an Indian business delegation to Afghanistan to study opportunities on the ground. The delegation could include representatives from various industries if discussions indicate strong interest from companies and investors. According to Minda, Afghanistan has identified key sectors such as mining, oil and gas, and sugar as priority areas for cooperation. ASSOCHAM aims to work with Indian companies to explore opportunities in these sectors and expand economic engagement.

The broader vision of the partnership goes beyond traditional trade activities. Both sides are looking at encouraging industrial cooperation, including the establishment of manufacturing facilities in India and Afghanistan. The goal is to promote long-term economic integration and create sustainable business links between the two countries.