Economy, Business And Markets

Allure of Iranian FTZs for Foreign Investors

Allure of Iranian FTZs for Foreign InvestorsAllure of Iranian FTZs for Foreign Investors

Iranian Free Trade Zones have been frequented by a number of ambassadors and representatives from Germany, Canada, China, South Korea, Japan and even countries from Central Asia since the April 2 interim nuclear agreement between Iran and P5+1 group.

The latest of such tours was the one by a UAE delegation led by Sultan Ahmed bin Sulayem, chairman of DP World which operates Dubai’s Jebel Ali Free Zone, Mehr News Agency reported. Akbar Torkan, the president’s chief advisor and secretary of Iran’s High Council of Free Trade and Special Economic Zones, accompanied the Emirati delegation in their visit to three FTZs, namely Qeshm and Chabahar in the south and Anzali in the north, as well as Kaveh Port and the Persian Gulf Comprehensive Linking Network Project.

Economic ties between Iran and the UAE enjoy a long history, said Sultan Ahmed bin Sulayem. “I have visited Iran’s Qeshm Island frequently during the past 25 years, but this time round I felt a sense of radiance in the air,” he said.

He stressed the importance of reviving the Silk Road by Iran and said to that end, the north-south trade lines should get operational again.

The region’s international trade would bounce when the north-south trade lines reopen and Qeshm Island would then play a pivotal role thanks to its commercial, industrial and tourism potential, he added.

Qeshm and Chabahar are the southern gates of Iran’s trade, said Akbar Torkan. Creating the north-south trade route linking Qeshm, Chabahar and Anzali will maximize the synergies of these FTZs, he added.

In their visit to Anzali Free Trade Zone, the Emirati delegation explored avenues for boosting maritime cooperation with Iran as well as Russia and Kazakhstan.  

The visits by Emirati investors are expected to help expand economic ties and sign bilateral agreements between the two countries.

“Marine sector accounts for 50% of the UAE’s growth domestic product,” Hamidreza Momeni said.

“Qeshm can take major strides on different economic fronts through marketing by using the experience of Jebel Ali Free Zone in attracting investment.”

Momeni said easy accessibility to the international and Central Asian markets and commissioning of the Persian Gulf Comprehensive Linking Network Project are among Qeshm’s advantages in cooperation with Jebel Ali.