News ID: 201995
Published: 0257 GMT October 08, 2017

Chabahar only bridge between Indian Ocean countries, Central Asia

Chabahar only bridge between Indian Ocean countries, Central Asia

Iran's Chabahar Free Trade Zone (CFTZ), as a strategic point in the world, is the only link between Indian Ocean littoral states and Central Asia, as well as a part of Europe, said the head of the zone.

According to IRNA, Director General of Chabahar Free Trade-Industrial Zone Abdolrahim Kordi further said, "The approach in Chabahar Free Trade-Industrial Zone has turned from trade to production, and tens of manufacturing units in the region play a key role in employment and production."

The region is also a strategic point for heavy and light industries, and a hub for transit of goods and tourism, he added.

Chabahar is Iran's only oceanic port, and that is why the regional center of Indian Ocean Rim Association (IORA) is being established in the area, Kordi said.

Chabahar provides access to Afghanistan and Central Asian markets, plus the feasibility of creating bunkering centers, according to the official.

Following a bill by Iran's Parliament the Free Trade-Industrial Zone was established in 1994 in an area of 14 hectares in southeastern Iran on the Oman Sea. The region is bordered by Pakistan to the east.

On September 18, Kordi met the Philippines Ambassador to Iran Wilfredo C. Santos to brief and introduce the zone as fully operational for business and investment to Filipino businessmen.

During the meeting, Kordi listed possible areas of trade and investment which may be tapped by the Philippines, such as the establishment of petrochemical plant, steel and cement mill, automotive industry, food processing company and electronic company.

On the other hand, Santos stated that as Iran is opening up to the international market, adding the Philippines is keen on taking advantage of this opportunity. The zone, he noted, can play a vital role in enhancing relations between the Philippines and Iran especially in the business, trade, economic, investment and agricultural sectors since products coming from the Philippines may now be transported to other Asian countries as well as to the CIS countries through Chabahar Port.

"Both the Philippines and Iran can complement each other and maximize the opportunities in trade, business and investment sectors," Santos said.

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