AJ
⚡️ — Iran have completed steps to establish joint free trade zone with Turkiye
➡️ Secretary of Iran’s High Council of Free and Special Economic Zones Hossein Forouzan said over the weekend that Tehran had completed the preparations needed to launch the free zone and was awaiting corresponding action from the Turkish side.
🔹 Forouzan said that the project could help unlock economic and trade potentials for both countries as he highlighted Khoy’s location in northwestern Iran and its position along the Iran-Turkiye transportation corridor as key advantages for expanding commercial, economic and transit ties between the neighbour.
🔹 According to Forouzan, the joint free zone would boost cross-border trade, facilitate economic exchanges, attract investment and expand production and service activities, further strengthening economic relations, adding that the zone would benefit border communities on both sides while also supporting broader regional cooperation and enabling greater use of the shared economic potential of both countries.
🔹 On Saturday, Iranian Ambassador to Baghdad, Mohammed-Kazem Ale-Sadegh and Mehdi Rayati, the CEO of the Mehran Free Zone, held a joint meeting with Munther Abdul-Amir Assad, the Director-General of Iraq’s Authority for Free Zones, to review the latest measures, as well as the technical, legal, and administrative requirements for implementing the projected timelines.
🔹 During the meeting, Rayati said that launching the joint commercial and industrial crossing would create a unique opportunity to connect production chains between Iran and Iraq, establish export-oriented joint industries, as well as lower trade and goods transit costs.
🔹 Abdul-Amir Assad welcomed the expanded cooperation with Iran, adding that the Iraqi side is ready to finalise the coordination with the relevant authorities in Baghdad and Wasit Governorate to establish essential infrastructure at the Zurbatiyah border point.
