Iranian free trade zones see 25% increase in exports

Business Materials 26 September 2017 14:48 (UTC +04:00)

Baku, Azerbaijan, Sept. 26

By Khalid Kazimov – Trend:

The volume of goods exported form Iranian free trade and special economic zones has increased by 25 percent over the current fiscal year (starting March 20) to reach $1 billion.

The secretary of Iran's High Council of Free Trade and Special Economic Zones, Morteza Bank, has said that the government supports plans to develop the special economic zones, the official new website of the government reported.

Expressing his satisfaction over the surge in the country’s exports through the free trade zones, he expressed hope that allocating financial facilities would contribute to a boost in the activity of such zones.

He further denied the reports suggesting that the free trade zones have caused a rise in the amount of goods smuggled into the country and said the cooperation between his organization and customs administration of the country rules out such possibilities.

The new Iranian Minister of Industry, Mine, and Trade Mohammad Shariatmadari earlier said that about 90 percent of foreign goods offered in the Iranian market have been smuggled into the country.

Back in May, the Iranian central task force for combating smuggling of commodities and currency has said that about $12 billion worth of goods were smuggled into the country over the last fiscal year (20 March 2016/2017).