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Press Release

FOR IMMEDIATE RELEASE

CONTACT OFFICE OF PUBLIC AFFAIRS

Tuesday, July 10, 2007

202-482-4883

Secretary Gutierrez and Afghan Minister of Commerce and Industry Farhang Sign Joint Statement on Commercial Cooperation

WASHINGTON—Today, Secretary of Commerce Carlos Gutierrez and Afghan Minister of Commerce and Industry Dr. Mir Muhammad Amin Farhang signed a Joint Statement on Commercial Cooperation between the U.S. Department of Commerce (DOC) and the Afghanistan Ministry of Commerce and Industry. The signing formalizes and enhances the two sides’ cooperative efforts designed to strengthen bilateral commercial relations and help Afghanistan develop its trade capacity and private sector.

“Afghanistan is making progress in overcoming two decades of war and instability,” said Gutierrez. “The government of Afghanistan is working to provide new political freedoms to encourage and stimulate the entrepreneurial spirit in the people of Afghanistan. This signing will strengthen the continued commitment of the United States to help further Afghanistan’s economic development and bring peace, hope and prosperity to the Afghan people.”

The leaders announced the creation of a working group comprised of designated trade officials from both nations. This group will create a forum for the exchange of information on commercial matters, including commercial and investment opportunities, trade and investment regulations, and intellectual property rights protection. The group will continue to implement programs to help Afghanistan further develop sectors where it has a comparative advantage – rugs, dried fruits and nuts and mining.

The Joint Statement outlines a common agenda for future commercial cooperation focusing on capacity building, matchmaking and business promotion. It focuses on the private sector as the engine for the reconstruction of the Afghan economy. These efforts will help Afghanistan advance towards the broader objectives of the U.S.-Afghanistan Trade & Investment Framework Agreement including WTO accession, comprehensive legal reform, and improvement of property rights protection and of the overall investment climate.

Prior to the signing, Secretary Gutierrez and Minister Farhang discussed ways to enhance the commercial relationship between the United States and the Afghanistan, including promoting Afghanistan’s agricultural resources, strengthening intellectual property rights protection, and developing national standards.

Background:
The U.S. commercial relationship with Afghanistan continues to expand. Last year, two-way trade reached $462 million – 40 percent more than the previous year. Exports of Afghan rugs to the United States rose by 38 percent during the first four months of 2007, compared with the same period in 2006. In addition, more than 160 U.S. companies registered with the Afghan Investment Support Agency, representing over $100 million in potential investment.

Since 2002, the DOC’s Afghanistan Investment and Reconstruction Task Force has coordinated business promotion activities with the Afghan Embassy and the Afghan-American community. The Task Force facilitates U.S. and Afghan business linkages by planning and supporting roundtables with U.S. and Afghan government officials, including investment promotion seminars, business outreach events, matchmaking conferences, and daily counseling of U.S. and Afghan companies via its public e-mail and phone hotlines.

As part of the Commerce Secretary’s Initiative for Afghanistan, the Department promotes the development of Afghanistan’s key export sectors: rugs, fruits and nuts, and mining/marble. The Task Force organizes trade missions to and from Afghanistan to help Afghan companies find capital, equipment, and international partners for their operations. It also provides assistance for trade capacity building on WTO accession, trade development and promotion, and standards.