Iran welcomes Baku’s proposal to form special economic zone (Exclusive)
Baku, Azerbaijan, Oct. 27
By Farhad Daneshvar – Trend:
Iranian Finance and Economic Affairs Minister Masoud Karbasian has welcomed a proposal by Azerbaijan on the creation of a special economic zone in Iran’s Astara city.
In an interview with Trend on Friday, Masoud Karbasian said that creating the special economic zone in Iran’s Astara would exempt Azerbaijan from some regulations.
According to the minister, establishing the special economic zone will provide Azerbaijan with opportunities to benefit from its investments in Iran’s Astara.
Karbasian further vowed to follow up on the proposal in order to help Azerbaijan utilize its investment plan in the Iranian border city.
Azerbaijan’s Economy Minister Shahin Mustafayev earlier on October 26 put forward the proposal on setting up the economic zone.
Azerbaijan has earlier agreed to provide 60 million euros in investment for developing railway facilities in Iran’s Astara.
Karbasian, heading a high ranking economic delegation, arrived in Baku on Oct. 26 on a two-day official visit to discuss bilateral economic ties.