Iran, Iraq to Create Three Free Zones

A00947635.jpgTEHRAN (FNA)- Iran and Iraq have come to terms on establishing three free trade zones in border regions, secretary of the two countries’ Economic Development Affairs (IIEDA) headquarters announced.

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), the Iranian official stated, Tehran Times said citing a report by the Iranian tv news network.

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

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