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News number: 9107152456

18:35 | 2013-03-12

Economy

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Iranian Envoy Invites Azeri Nationals to Invest in Aras Free Trade Zone

TEHRAN (FNA)- Tehran's Ambassador to Baku Mohsen Pakayeen called for Azeri investors' stronger economic activity in Iran's Aras Free Trade Zone (AFTZ), saying that the zone will be highly profitable for foreign investors.



Speaking in an economic program in Azeri ANS TV network, Pakayeen introduced Aras FTZ's economic and investment capacities and advantages, and said, "At least 40 plans and investment projects have been proposed (in the zone) which can be profitable for foreign investors, specially (investors from) the Republic of Azerbaijan."

He said Iran has granted special and rare facilities to foreign investors in the AFTZ, and said, "Tax exemption and duty-free activity in the region, its easy access to Turkey and rail road facilities for transit of goods to the Persian Gulf and the Sea of Oman's ports are among other advantages of this Iranian free trade zone making it a good option for foreign investors."

Other legal advantages together with low production costs and lower final costs will provide investors with higher surplus value, Pakayeen stated.

In December 2012, an Iranian official announced that some $105mln worth in goods have been exported from the AFTZ since the beginning of the current Iranian year (started March 20), showing a 43-percent rise as compared with last year's corresponding period.

There are more than 100 manufacturing, industrial, and trading units active in AFTZ and their products are exported to target countries across the globe.

Also in December, an Iranian provincial official said Iran and Azerbaijan are determined to open a joint economic zone in Qoli Beiglou region.

"The plan for setting up a joint economic zone between the Islamic Republic of Iran and the Republic of Azerbaijan in Qoli Beiglou region is seriously being followed up and we hope to see its implementation soon," East Azarbaijan province's Governor-General Ahmad Alireza-Beigi said, addressing a provincial meeting at the time.