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Terrorism deters economic growth in Afghanistan

New Delhi, Oct. 1 : Afghanistan’s economic growth is hindered by insecurity and the ongoing conference in Delhi titled ‘South Asia Economic Conclave’ gave an opportunity to discuss ways to enhance trade and investment in the war-torn country.

Decades of war in Afghanistan have brought economic instability in the region and the ongoing conference titled ‘South Asia Economic Conclave’ in Delhi laid an opportunity for the war-torn country to discuss ways to improve intra-regional trade and investment.

Afghanistan has abundant resources. However, the country is unable to exploit it.

Being a landlocked country, connectivity is also the biggest hindrance in carrying out trade in the South Asian region.

The ongoing TAPI (Turkmenistan-Afghanistan-Pakistan-India Pipeline) project did not progress well. The territorial issues between India, Pakistan and Afghanistan are not allowing regional integration for trade.

Zabihullah Ziarmal, who heads a Kabul-based trading and logistic firm, said that security and stability will create market not only in Afghanistan but across South Asia.

“In Afghanistan and Pakistan, what is confronting promotion of trade and investment is the insecurity and the political instability and also the terrorism which is the bigger challenge,” said Ziarmal, CEO, Cefe Group International, Afghanistan.

Although insecurity and war has crippled the growth of Afghanistan. However, the country appeals to take risk by private sectors to invest in the war-torn nation.

“If the South Asian countries wish to bring the political stability at the macro-economic level, the South Asian countries specifically the bigger players of the South Asian region, India and Pakistan the biggest economy of the eight South Asian countries need to be honest and to put specific policy and procedures on the ground,” said Ziarmal.

The importance of economic integration is vital for the growth of the South Asian region and helping each other will improve to rise on the global standards.