Economy, Business And Markets

Trade Booming at Arvand Free Zone

Trade Booming at Arvand Free ZoneTrade Booming at Arvand Free Zone

Exports from Arvand Free Commercial-Industrial Zone in the southwest of Iran amounted to more than $1.4 billion in the last Iranian year (March 2015-16), indicating a 9% increase compared to the previous year, the deputy head of Arvand Free Zone Organization said.

“Over 11,000 billion rials ($317.2 million at market exchange rates) of domestic and $53 million of foreign investments have been made over the period, registering a 109% and 53% growth respectively,” Mohammad Reza Motamedi said.

The official noted that close to $29 million worth of industrial goods and raw materials were imported through Arvand Free Zone, showing a 177% rise compared to a year before, IRNA reported.

Arvand Free Zone is located along the northwest coast of the Persian Gulf and spans 37.4 hectares of land in the vicinity of Abadan and Khorramshahr.

The free zone borders Iraq and Kuwait and has access to road, sea, rail and air transportation.