Iran and Afghanistan are seeking to expand economic cooperation beyond the export of goods, with contracts worth more than $400 million signed or agreed at the 5th Abu Hanifa International Expo in Kabul, the head of the Iran-Afghanistan Joint Chamber of Commerce said.

Mahmoud Siyadat made the remarks on the sidelines of the exhibition, which opened in the Afghan capital on October 7, highlighting a shift toward joint ventures, technology transfer and investment in Afghanistan’s domestic production.

Siyadat said the value of contracts concluded by Iranian participants with Afghan counterparts at the exhibition exceeded $400 million. Finalizing the agreements would create opportunities to further strengthen economic ties between the two countries, he added.

More than 50 Iranian traders and entrepreneurs took part in different sectors of the expo, which Siyadat described as an important platform for expanding commercial relations.

He said economic engagement had evolved from a primary focus on exporting goods to include cooperation in joint projects, the transfer of knowledge and technology, and participation in local manufacturing in Afghanistan.

Siyadat also called on the Iranian government to provide greater support for developing economic relations with Afghanistan.

He said priorities should include encouraging investment in Afghanistan, expanding exports of technical and engineering services, activating the export guarantee fund and providing incentives for exporters.

The proposed measures, he said, would help businesses make better use of existing economic opportunities and deepen cooperation between the neighbouring countries. (ILKHA)