September 01, 2018 18:37

Iran Parliament's Green Light for 20 New Free, Special Economic Zones

Debates on the merits of FTZs have been based on their impact on social issues like labor rights, environmental protection and urban planning to macroeconomic issues such as state revenues, employment, trade and foreign exchange earnings

Maku Free Trade and Industrial Zone is Iran’s largest and the world’s second biggest free trade zone spread over 5,000 square km.

The primary purpose of a free trade zone is to remove trade obstacles caused by high tariffs and complex customs regulations from a port, airport or border checkpoint

Members of the Iranian Parliament have approved in principle the bill on the establishment of eight free trade zones and 12 special economic zones.
The parliamentary session on Wednesday saw 127 lawmakers vote in favor and 51 against the bill, while 10 MPs abstained.
Once the parliament and the Guardians Council give their final approvals, the following FTZs will be created: Incheh Borun in Golestan Province, Mehran in Ilam Province, Ardabil in Ardabil Province, Sistan in Sistan-Baluchestan Province, Baneh-Marivan in Kurdestan Province, Jask in Hormozgan Province, Bushehr in Bushehr Province and Qasr-e Shirin in Kermanshah Province, IRNA reported.

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Free Trade Zones in Iran