Mar 12, 2024, 3:26 PM
News ID: 85416597
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Iran, Turkiye agree to open free trade zone soon

Mar 12, 2024, 3:26 PM
News ID: 85416597
Iran, Turkiye agree to open free trade zone soon

Tehran, IRNA – The Head of the Maku Free Zone Organization, Hossein Garousi, has announced that Iran and Turkiye have signed a Memorandum of Understanding (MoU) to open a free trade zone in the near future.

In an interview with IRNA on Tuesday, Garousi stated that constructing a new railway between Iran and Turkiye from Marand and Cheshmeh Soraya to Igdir and Kars could significantly increase rail exchanges between the two countries.

He also mentioned that once the rail sector is complete, transit and road issues will be developed as well.

Garousi emphasized that studies on establishing a joint free zone between Iran and Turkiye are ongoing, and memoranda of understanding (MoUs) have already been signed.

He believes that Iran and Turkiye will have greater trade cooperation in the coming years.

The east-northwest corridor, known as Sarakhs-Bazargan, and the south-east to north-west corridor, from Chabahar to Bazargan, as the country's essential corridors end up in the Maku Free Zone, which can play a crucial role in the country's trade, according to Garousi.

He also stated that the projects' studies have been completed, and the presidents of both countries have signed a memorandum of understanding (MoU).

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