0737 GMT February 25, 2020
The main target of exported commodities were the Republic of Azerbaijan, Turkey, Russia, Iraq, Uzbekistan, Georgia, Afghanistan, Germany and the United Arab Emirates, Nariman added, according to IRNA.
The exported goods consist of bitumen, diesel, hydrocarbons, polyethylene products, nuts, polyester products, textiles, pepper, and tomatoes, he said.
Aras Free Trade Zone has been able to make considerable progress in recent years in the fields of manufacturing, industry, export, agriculture, mining, business and commerce; thus, the businessmen and investors from neighboring countries can benefit from the advantages offered by this zone to boost economic ties with Iran.
The zone seeks to increase the volume of non-oil exports and the majority of the imported products in this zone are basic and semi-finished goods.
Tax exemption on various economic activities for 20 years since the operation starting date, exemption from customs duty and commercial charges on the import of raw materials and machineries, possibility of sending the manufactured products into the mainland while upholding the added-value rules, exporting with minimum formalities, re-export opportunities for goods-in-transit, and allowing for 100 percent foreign investment (without an Iranian partner) are among the advantages offered to investors in the zone.
The Aras Free Trade Zone is located in northwestern Iran at the border point neighboring Armenia, Azerbaijan and the Autonomous Republic of Nakhichevan.