Economy, Domestic Economy

Aras GRDP Hits $835m

Aras GRDP Hits $835mAras GRDP Hits $835m

Aras Free Trade and Industrial Zone’s gross regional domestic product (GRDP) reached $835 million in the past Iranian year (ended March 20), which indicates an increase of 21 percent compared to a year before, deputy CEO of AFTIZ, Farokh Masjedi, announced on Saturday as reported by IRNA.

AFTIZ exports amounted to $65 million last year, registering a 55-percent increase compared to the previous year.

Foreign transit via AFTIZ stood at $297 million, which indicates a 6-percent increase. Transit destinations mainly included Persian Gulf countries, Turkey, Iraq, Armenia and Azerbaijan.

“At present, 96 manufacturing firms are active in AFTIZ while some 214 new firms are also under construction,” Masjedi noted.

According to the official 11,384 jobs were created in the zone last year, which indicates a 52-percent increase compared to a year before.

Aras FTIZ, sitting on a 51,000-hectare area, is 140 kilometers from the city of Tabriz in northwestern East Azarbaijan Province. The zone shares a border with Armenia and Nakhchivan Autonomous Republic.