AFTZAltanbulag Free Trade Zone (Mongolia)
AFTZArvand Free Trade Zone (Khuzestan, Iran)
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The agreement was signed by AFTZ Managing Director Mohsen Khadem Arab-Baghi and FEMOZA President Juan Torrents in the city of Tabriz, Northeastern Iran.
There are more than 100 manufacturing, industrial, and trading units active in AFTZ and their products are exported to target countries across the globe.
Western political and economic experts remain sceptical that the AFTZ will succeed.
The AFTZ is also seen by some as a last means to preserve a significant role for the Arab League, whose reputation and ability to function were severely limited following a series of tactical errors on the world stage in the past decade.
Over 26 groups of investors from different countries have visited the Aras Free Trade Zone since the beginning of the current Iranian year (March 21-August 22)," AFTZ Deputy Managing Director Ebrahim Bagherzadeh said on Friday.
In March, Iran's Aras Free Trade Zone joined the World Free Zones Federation according to an agreement signed by between the AFTZ and the World Federation of Free and Special Economic Zones (FEMOZA).
He noted that non-oil exports from AFTZ witnessed a 144 percent growth during the said period as compared with last year's corresponding period.
He expressed the hope that the two countries' cooperation would lead to increased investments by Turkish industrialists in AFTZ.
He said Iran has granted special and rare facilities to foreign investors in the AFTZ, and said, "Tax exemption and duty-free activity in the region, its easy access to Turkey and rail road facilities for transit of goods to the Persian Gulf and the Sea of Oman's ports are among other advantages of this Iranian free trade zone making it a good option for foreign investors.
Exports from Aras Free (Trade) Zone increased by 43 percent in value and 50 percent in weight in the said period as compared with the corresponding period in the last year," AFTZ Managing-Director Sadeq Najafi said.