Afghan President Hamid Karzai said on Monday that the reconstruction of Afghanistan offers broad business opportunities for Chinese firms.

 

Karzai expressed his will to attract various Chinese firms to open or develop business in his country at a China-Afghanistan Business Seminar, saying the reconstruction process of Afghanistan will last for at least two to three decades and the growing and extending market of Afghanistan can offer considerable profit to Chinese investors.

 

He said the current Afghan reconstruction involves every aspect of life, including roads, schools, hospitals, housing and factories. He welcomes Chinese firms to invest in the areas of underground resources, telecommunications, transportation, construction and building materials.

 

According to Karzai, the Afghan economy, per capita income and foreign exchange reserves have grown significantly over the past four years. This growth will continue in the next five to ten years at between 10 to 13 percent.

 

The bilateral trade volume between Afghan and China has increased to about US$400 million to US$500 million today, which is mainly exports from China to Afghanistan, said Karzai.

 

The Afghan president said he hopes Afghanistan could be China's closest country connecting Iran, Turkmenistan and the rest of the region.

 

Afghanistan is facilitating foreign businesses in the country by reduced bureaucracy, simplified procedures and legal protection, said Karzai, adding that his country will protect the property of Chinese firms and guarantee their rights to bring money back to China.

 

He reassured the Chinese entrepreneurs attending the seminar that they "will not miss Chinese food in Afghanistan" because there are already several Chinese restaurants in Kabul.

 

(Xinhua News Agency June 20, 2006)