Iran Brings About Setting Free Trade Zones With Certain Nations

(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 5. Iran is currently negotiating with 21 countries to establish joint free trade zones, advisor to the Iranian president and secretary of the Supreme Council of Free Trade Zones of Iran, Hojatollah Abdolmaleki said, Trend reports.

According to Abdolmaleki, these countries include all neighboring countries and some far-flung countries.

Abdolmaleki added that the first international joint free trade zones will probably be established with the participation of Iran and Syria.

The council's representative informed that Iran's Supreme Council of Free Trade Zones is focusing on attracting foreign investment along with the establishment of international joint trade zones.

Commenting on the activities of Iran's free trade zones, Abdolmaleki noted that in the last Iranian year (from March 21, 2022, through March 20, 2023), $18 billion worth of products were exported from Iran's free trade zones. This amounted to one-third of Iran's exports. After deducting the costs of $4 billion, the income from exporting the products of free trade zones amounted to $14 billion.

To note, there are 18 free trade zones and 48 special economic zones in Iran. It is expected to increase the number of special economic zones to 79.

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