U.S. COMMERCE SECRETARY
CARLOS GUTIERREZ
AND
AMBASSADOR TO THE U.N.
ZALMAY KHALILZAD
ADDRESS
THIRD ANNUAL AFGHAN-AMERICAN CHAMBER OF COMMERCE CONFERENCE
ON BUSINESS OPPORTUNITIES IN AFGHANISTAN

WASHINGTON, D.C.  – U.S. Secretary of Commerce Carlos Gutierrez and Ambassador to the U.N. Zalmay Khalilzad were among the prominent Americans who joined Afghanistan experts in addressing the third annual U.S.-Afghan Business Matchmaking Conference presented by the Afghan-American Chamber of Commerce (AACC) on November 12-13, 2007 at the Ronald Reagan Building and International Trade Center in Washington, D.C. The conference was organized in cooperation with the Afghanistan International Chamber of Commerce in Kabul and the Afghan Business Council in Dubai and supported by USAID and DAI.

Ambassador Khalilzad gave the conference’s opening keynote, noting “the crucial role of the private sector in enabling Afghanistan to succeed…The right approach in my view [is] identifying specific business opportunities in the most promising economic sectors. There is great opportunity in the mineral, building materials, construction, transit, agriculture, and other sectors in Afghanistan.”  Commerce Secretary Gutierrez indicated in the second-day keynote, “There is reason for optimism in Afghanistan. The transition to a free market economy is happening. Over the last few years, GDP growth has been solid, averaging around 10 per cent. Rebuilding is taking place. Real progress is being made.”
Mr. Robert Mosbacher President of U.S. Overseas Private Investment Corporation (OPIC) gave a review of his agency’s activities and expressed willingness to fund future projects. Also, Deputy Assistant Secretary of State for South and Central Asian Affairs Mr. John Gastright, Jr. who is in charge of Afghanistan at the State Department spoke of the U.S. government’s continuing commitment toward Afghanistan in the coming years.

A conference highlight was the inaugural presentation of the AACC’s annual Business Person of the Year Award to Mr. Ehsan Bayat, Founder and CEO of the Afghan Wireless Communications Company. Mr. Bayat is an Afghan-American who has made a significant private sector capital investment in post-9/11 Afghanistan.

Another highlight was the official release of a new mineral resource assessment in Afghanistan by the U.S. Geological Survey (USGS). Mineral resources present a great source for a country’s economic growth, and the USGS announced that Afghanistan has significant amounts of undiscovered non-fuel mineral resources, according to its 2007 assessment. Estimates for copper and iron ore resources were found to have the most potential for extraction in Afghanistan. Scientists also found indications of abundant deposits of colored stones and gemstones, including emerald, ruby, sapphire, garnet, lapis, kunzite, spinel, tourmaline and peridot. USGS scientists worked cooperatively with the Afghanistan Geological Survey of the Afghanistan Ministry of Mines between 2004.

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“In the last six years, reconstruction and development in Afghanistan have acquired real momentum and there are fortunes to be made in the sectors highlighted in this conference. To facilitate U.S.-Afghan business and investment, AACC has seeded new business partnerships, organized major conferences, issued policy papers and, very importantly, acted to ensure that Afghan private sector-based economic development is a top priority for U.S. and Afghan policymakers,” said AACC President Atiq Panjshiri.

This annual event convenes U.S. and Afghan leaders from the private and public sectors to promote the role of business development in Afghanistan’s reconstruction and emerging economy. It is the largest yearly gathering that brings together American and Afghan business representatives to discuss business and investment opportunities and joint ventures. More than 200 leading representatives of U.S. and Afghan corporations, educational and development organizations, and government agencies participated. The Afghanistan International Chamber of Commerce accompanied a delegation of companies from Afghanistan that are active in sectors such as construction and agribusiness. The conference presented sessions on investment finance, human resource capacity, telecommunications, and civil-military cooperation for economic development in Afghanistan. It also included roundtable discussions on business opportunities in Afghanistan’s key sectors, such as infrastructure, construction, power, agribusiness, and mining. The conference was complemented by an informational trade fair, showcasing companies and organizations based in the U.S. and Afghanistan as well as resources available from U.S. Government agencies.

AACC Chairman of the Board Ajmal Ghani A., who was Master of Ceremonies for the two-day conference, called ounce again for a U.S.-led “Marshall Plan” for Afghanistan’s development and the creation of jobs for Afghan youth. Six years after the fall of the Taliban, great progress has been made in the development of Afghanistan’s institutions and economy. While continued donor support is needed, the private sector is the key to sustaining Afghanistan’s recovery. The conference facilitated fruitful discussions between companies, institutions, and nonprofit organizations through information sharing and interactive presentations. The overarching goal of the conference is increased investment in Afghanistan, bringing jobs, technology, and training to the Afghan people.

The Afghan-American Chamber of Commerce (AACC) is the leading organization facilitating U.S.-Afghan business, investment, and trade ties.  AACC serves the interests of its members through numerous programs, advocates for a free and open market economy in Afghanistan, and endeavors to strengthen U.S.-Afghan economic relations.  AACC is a growing national organization, bringing together companies, organizations, and individuals with a stake in helping Afghanistan succeed and developing opportunities in an emerging economy.