Economy Materials 26 August 2024 11:14 (UTC +04:00)
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ASHGABAT, Turkmenistan, August 26. The governor of Iran’s Golestan province, Ali Mohammad Zanganeh, has announced plans to establish a joint free trade zone (FTZ) with Turkmenistan, a move expected to significantly enhance economic cooperation and development for both nations, Trend reports via Iranian media.
According to the information, the ongoing discussions mark a strategic effort to deepen ties and create new opportunities for trade across the shared border.
The proposed free trade zone in Iran’s Incheh-Borun, a critical gateway to Central Asia, is projected to create 47,000 jobs and boost the exchange of goods via railways to 13.7 million metric tons and by road to 6.3 million metric tons. Zanganeh highlighted the project’s potential to stimulate industrial growth and economic integration between the two countries.
This initiative aligns with broader efforts by Iran’s Trade Promotion Organization (TPO), which recently hosted a seminar to explore trade opportunities between Iran and Turkmenistan. The seminar, part of preparations for a specialized agrofood exhibition in Turkmenistan, attracted key officials, including TPO’s Export Coordination Director-General Mahmoud Bazari. He emphasized Turkmenistan’s importance as a market for Iranian goods and services, particularly within the context of the International North-South Corridor, which could further enhance export activities and regional economic collaboration.
These developments reflect a concerted push by both nations to capitalize on their geographical and economic advantages, aiming to drive growth and strengthen their regional influence through closer economic partnerships.
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