BAKU, Azerbaijan, July 25
By Elnur Baghishov – Trend:
Azerbaijan is the first foreign investment partner of the Aras Free Trade and Industrial Zone in East Azerbaijan Province (northwestern in Iran), Managing Director of Aras Free Trade and Industrial Zone Mohsen Nariman said, Trend reports citing IRIB.
Nariman stressed that about 40 percent of the zone's products are exported to Azerbaijan.
He added that over the past five years, the products of the Aras Free Trade and Industrial Zone worth $97 million have been exported to Azerbaijan.
The director noted that a total of $518 million worth of products have been exported from the Aras Free Trade and Industrial Zone in the last Iranian year (from March 21, 2019 to March 20, 2020). Some 41 percent of it was exported to the Azerbaijani market.
Nariman said that Azerbaijan and Turkey have the largest foreign investment in the Aras Free Trade and Industrial Zone.
“As many as 50 Azerbaijani manufacturers on trade and services are registered in the zone. With the investment of 8 Azerbaijani companies, 600 jobs have been created,” he said.