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President Karzai Agrees on Economic Projects with China

in Afghan Business

President Karzai Agrees on Economic Projects with China

It is reported that that the delegation from China National Petroleum Company would come to Afghanistan in the next few days to lay out the groundwork for signing of cooperation agreements between the two nations.

President Karzai discussed such economic ties with China in his meeting with the President of China’s National Petroleum Company, Jiang Jeimin.

The exact date of the President Jeimin’s visit to Afghanistan is not yet confirmed; however, the presidential office has declared that his visit would take place in the month of June.

Media sources from the presidential office have reported the agreement signed between China and Afghanistan in respect of economic projects. It is not yet known the exact names of the economic projects that are agreed upon. President Karzai has guided the Minister of Mines in determining the framework of this cooperation.

According to the presidential newspaper, Mr. Jeimin has promised to President Karzai that China’s National Petroleum Company would carry out the economic and technical studies of the oil fields in the Amu River by the designated time.

The Ministry of Mines signed the agreement of extraction of oil in the Amu River with China’s National Petroleum Company last year. The officials from the Ministry of Mines have reported that the work of extraction is granted to China for the time-span of 25 years. It is expected that the billions of dollars of revenue from our oil extraction would go towards the development of education and health situation in Afghanistan.

Mr. Jeimin in his meeting with President Karzai expressed his willingness regarding the extension of the gas pipe line from Turkmenistan to Tajkistan, Afghanistan and then to China.

National Petroleum Company is the 7th largest oil and gas company in the world. It won the agreement of oil extraction in the Amu River and the work would start the work in the month of October this year.

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