Iran, Iraq to create 3 free zones

13 September 2008
TEHRAN - The secretary of Iran-Iraq Economic Development Affairs (IIEDA) headquarters announced that Iran and Iraq have come to terms on establishing three free trade zones in border regions.

According to IRINN, Hassan Danaiefar said that the move is aimed at increasing two-way trade to around $4 billion per annum.

The sides' trade value stood at about $2.8 billion in the past Iranian calendar year (March 2007- March 2008), said the Iranian official.

He added that the free zones will be founded in the three Iraqi regions of Al Kut, Al Emara, and Suleimanieh.

Danaeifar and the Iraqi Prime Minister Nouri al-Maleki on Thursday held talks in Baghdad on ways to expand economic ties especially in the fields of fuel and energy, IRNA reported.

Danaeifar said the Islamic Republic of Iran is prepared to satisfy the Iraqi market demands.

© Tehran Times 2008