TEHRAN, Iran, Nov.17
Trend:
There are 2,280 production units are active in free and special economic zones of the countries that share 40 percent of the country's non-oil export and effective role in trade with Eurasia, said the advisor of the president.
"Utilizing the legal capacities of free zones would reduce production costs, increase competitive power in international markets and turn these free economic zones to production hub in the framework of the free trade agreement," said Morteza Bank, Trend reports citing ILNA.
"Free zones are special gates in international corridors. The Caspian Seaport in Anzali Free Zone alongside Amirabad and Astara special economic zones are transportation gates that are very economical trade route to Eurasian countries. Aras and Maku free zones and Sarakhs Special Economic Zone are gates for cargo transportation via land, " he said.
According to Bank by using the legal capacities free zones could have a role in financial transactions by creating offshore banks and offering services in credit and insurance and be a financial and credit hub. Additionally, he added that free trade agreement between Iran and the Eurasian Economic Union would create access to $870 billion markets.
"The free trade agreement is a strategic action that would progress trade and accelerate investment and boost domestic production. The agreement between Iran and Eurasian Economic Union is effective in market development, creating jobs, improving transportation and production," he added.
"Considering the limited trade markets and access and problems in a global financial transaction, it's recommended that domestic organizations would properly use the capacities of the agreement to create sustainable trade with members of Eurasia Economic Union," he noted.
He went on to say that the needs of the market in the Eurasian Economic Union should be recognized and good quality goods should be produced for export.