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Iran's Aras Free Zone, Turkey to ink trade agreement

23 May 2011 [09:50] - TODAY.AZ
The officials of Iran's Aras Free Trade Zone (FTZ) and Turkey's Northeast Anatolia Development Agency announced that they plan to sign a trade agreement to increase economic cooperation between the two sides, FNA reported.

During a meeting between the Iranian and Turkish officials, Head of Turkey's Northeast Anatolia Development Agency Rifaat Alten stressed that the Aras Free Trade Zone enjoys noteworthy and proper facilities and infrastructures for investment and endorsement of joint cooperation deal in the field of trade.

The Turkish delegation described the infrastructures and investment facilities and opportunities of the Aras Free Trade Zone as beyond his expectations, and announced its readiness to sign trade agreements with the Iranian side.

Some $8.19 million worth in goods were exported from the Aras Free Trade Zone in the first five months of the last Iranian year (March 21, 2010 to August 21, 2010).

Aras Free Trade Zone's exports showed over 3,445 percent of increase in value compared to the same period in 2009.

The zone's exports are mostly destined for Azerbaijan, Germany, Armenia, Turkey, Russia, Iraq, Georgia and Nakhichivan.

Some $97.9 million worth in goods have also been imported to Aras FTZ in the mentioned period, down by 17 percent compared to the approximately $119.3 million of 2009.


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