Sunday, July 14, 2024

China to rank Afghaistan’s second-largest trading partner in 2023

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

Afghanistan and China’s economic ties have been developing swiftly, and in 2023, China may have the second-largest trade with Afghanistan after Pakistan.

Data from China’s customs show that in December 2022, China imported $9.09 million from Afghanistan and exported $59 million, resulting in a $49.9 million surplus in its commerce with that country.

Pakistan is currently Afghanistan’s top trading partner, according to the State Bank of Pakistan.

In 2022, the two countries’ bilateral commerce was to reach $ 1.513 billion, while India, traditionally ranked second, had bilateral trade with Afghanistan of $545 million last year.

Chinese exports rose by 56.4% between December 2021 and December 2022, while imports fell by less than 1%, a favorable scenario for extending the Belt & Road Initiative’s CPEC into Afghanistan.

Afghanistan has maintained a close relationship with Beijing for security and regional development as a country that shares borders with China. In addition, Afghanistan is considered to be part of the Belt and Road Initiative (BRI), which predicts improving connectivity between the two countries and the region.

Since the Taliban’s takeover in August 2021, China has emerged as a key player in negotiations with the new regime.

On January 5, the Chinese company signed an oil extraction deal with the Taliban-led government in Afghanistan in the presence of both countries’ high officials. The agreement was the first significant investment in Afghanistan since 2021, highlighting China’s economic interests.

Such an investment and agreement between China and Afghanistan can increase the economic and security cooperation between Beijing and Kabul. On the other hand, the presence of China in the country is mainly aligned with the Chinese security concern and its long-term strategic policy in the region.

However, the security concern in the country has remained a significant challenge for the current authorities. The last attack on Chines citizens in Kabul shows that China’s presence in the country will emerge new challenges to whether the government can promise its economic and strategic policies in Afghanistan and the region.

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