Tehran, Ankara to Launch Joint Free Trade Zone Soon: Official

The chief executive of the Maku Free Zone Organization said Iran and Turkey are mulling the launch of a joint free trade-industrial zone.

News ID: ۸۳۰۳۸۵

12 March 2024

EghtesadOnline: Speaking in an interview with IRNA, Hossein Garousi said the feasibility studies for launching the joint free trade-industrial zone are ongoing between the two countries.

Referring to the construction of a new railway between the two countries, he said the completion of the construction operation of the railway would spur bilateral trade and economic activities.

Garousi also said the International East-Northwest Transport Corridor and the International Southeast-Northwest Transport Corridor lead to the Maku Free Zone, so this zone can play an important role in boosting the trade activities of the country.

Maku is the last connecting point between Asia and Europe and the zone was on the Silk Road map in the past, he said, adding that this indicates its significance in the trade and business sector.

Referring to the signing of a memorandum of understanding (MoU) for the launch of a joint free zone between Iran and Turkey, Garousi added that the construction of the new Marand-Cheshme Soraya-Igdir-Kars line can lead to a considerable jump in the exchange of products via rail between the two countries. / Tasnim