The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Afghanistan Chamber of Commerce and Investment (ACCI) signed a Memorandum of Understanding (MoU) in New Delhi on June 24, 2026, to enhance bilateral trade and strengthen historic economic ties. The agreement prioritizes private sector cooperation and identifies new investment opportunities, particularly in natural resources and manufacturing.
MoU Signing Ceremony in New Delhi
Speaking after the signing, ASSOCHAM President Nirmal Kumar Minda emphasized the centuries-old relationship between the two nations. "Our relationship with Afghanistan is centuries-old. To give a new strength to those ties, this MoU signed today between the Afghanistan Chamber of Commerce and our ASSOCHAM will increase our bilateral trade," Minda said.
The two chambers aim to significantly increase current trade volumes by addressing specific industrial needs and establishing direct communication between entrepreneurs from both countries. Minda noted that current bilateral trade stands at about $1 billion, slightly lower than the previous year due to the Gulf War. "There is a trade of about 1 billion from both our countries. Which is a little less than last year. And because of the Gulf War, it was a little less in the middle. But now I feel that it will increase further," he added.
Focus Sectors and Timelines
Under the MoU, both chambers have set an immediate timeline to evaluate mutual commercial interests through regular digital forums. These initial consultations will determine the feasibility of sending an Indian business delegation to Afghanistan to explore ground-level opportunities. Minda stated, "We are considering how we can double our target. So we will be having discussions with every member of our association. They have identified their three focus sectors: mining, oil and gas, and sugar."
The operational strategy includes a structured schedule of bi-weekly and monthly virtual meetings over the next sixty days to gauge interest among private sector enterprises and industrial entrepreneurs on both sides. "We have set a target within the next one or two months. We will have two or three web meetings with them every 15 days to a month and after two or three web meetings. They repeatedly requested that 'you bring your delegation,' so we will try that if in our web meeting, there is interest from their side, industrial entrepreneurs, private sector and from our side, then we will go there with our delegation of 15-20 people," Minda explained.
Long-Term Goals: Industrial Establishment
The long-term objective of the partnership extends beyond standard import and export trade, focusing on reciprocal industrial establishment. The final phase of the economic roadmap aims to facilitate the setting up of physical manufacturing units in both jurisdictions to ensure sustained economic integration. "Our second target is that two of our industries should be set up there and two of their industries should be set up here," Minda said.
