News ID: 232777
Published: 0340 GMT October 14, 2018

MP calls for more investment in FTZs

MP calls for more investment in FTZs

An Iranian lawmaker said that joint investment in free trade zones (FTZs) with neighboring countries is of prime importance and in Iran's interest.

Member of the Presiding Board of Iranian Parliament's Plan and Budget Commission Hadi Qavami highlighted the importance of cooperation between Iran and Armenia on further investment in Aras and Meghri free trade zones.

"In the current situation, economic diplomacy, especially with neighboring countries, is of paramount importance to improve the country's economic situation by using the economic capacities and potentials of neighboring countries," he maintained.

"Establishing amicable relationship with Armenia should be taken into consideration since identifying the potentials of the two countries will help promote bilateral trade and economic relations considerably," Qavami stated.

Elsewhere in his remarks, he pointed to Iran-Armenia trade and noted, "Presently, Iranian gas is swapped for Armenia's electricity and with the expansion of cooperation in the field of supplying fuel, many problems in the sanctions period can be resolved."

Qavami underlined the need for Iran-Armenia cooperation in Aras and Meghri free zones and added, "Once we set up a refinery with a production capacity of 200,000 barrels in Aras and Meghri free zones, the country will earn huge revenuest."

In other industries such as plane manufacturing, the capacities and potentials of regional countries should be used optimally by strengthening economic diplomacy, he said, adding, "Such projects can be put into operation in other neighboring countries."

Qavami added that strengthening economic diplomacy with neighboring countries will help diversify and create value added significantly.

Speaking in Turkish resort city of Antalya last week, Iran's Parliament Speaker Ali Larijani said that promoting trade ties with Eurasian countries is a priority for Iran.

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