A new free trade zone was launched on Iran’s joint border with Iraq on Saturday.
President Hassan Rouhani inaugurated 20 industrial projects in Aras Free Trade and Industrial Zone located in West Azarbaijan Province via videoconference on Monday.
The Iranian government has launched dozens of infrastructure projects in its duty-free economic and trade zones as it seeks increased manufacturing and trade activity in those regions.
Iran has doubled the number of its free trade zones (FTZs) to 14 as the country plans to significantly increase the amount of trade with other countries in a bid to diversify the economy away from oil revenues.
A four-hectare container terminal was inaugurated on Qeshm Island’s Free Trade Zone via videoconferencing by President Hassan Rouhani on Thursday.
The Iranian parliament has approved plans for launching five new free trade zones (FTZ) in north and east of the country.
The Iranian president has signed into law the free trade agreement with the Eurasian Economic Union (EAEU) after the law was passed by parliament.