Aug 2, 2023, 4:44 PM
News ID: 85187793
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Iran, Syria working to establish free trade zone

Aug 2, 2023, 4:44 PM
News ID: 85187793
Iran, Syria working to establish free trade zone

Tehran, IRNA – Secretary of Iran’s Supreme Council of Free Trade-Industrial and Special Economic Zones Hojjatollah Abdolmaleki has announced that Iran and Syria are working to establish a joint free trade zone.

During a meeting with Syrian Minister of Economy and Foreign Trade Muhammad Samer Al-Khalil and Syrian Ambassador to Tehran Shafiq Dayoub on Wednesday, Abdolmaleki said that special free economic and trade zones are significant for the incumbent government in Iran, adding that more than 30 percent of non-oil exports and 70 percent of Iran's transit are from these zones.

Pointing to the signed Memorandum of Understanding (MoU) between the two sides, he described Aras Free Zone as one of the most industrialized free zones of Iran and a zone that is responsible for pursuing the affairs of establishing a joint free zone with Syria.

Muhammad Samer Al-Khalil, for his part, assured that one of the Syrian priorities in trade and economic cooperation with Iran is establishing a joint free trade zone.

He added that three ports in Syria, including Latakia, Al Bukamal, and Hassia, have been proposed as suggested areas for establishing a joint free zone with Iran.

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