The Managing Director of Aras Free Trade Zone Organization Mohsen Nariman said on Saturday that a sum of $251 million worth of goods were exported from Aras Free Trade Zone of East Azarbaijan Province during last Iranian year (ended March 20).
A member of Aras Free Zone Organization board of directors declared signing of a €700-million memorandum of understanding (MoU) to construct the railway of Jolfa-Nurduz-Qolibeyglou in East Azararbaijan Province.
The Aras Free Trade Zone (AFTZ) attracted $540.71 million and $78.74 million (a total of 619.45 million) in domestic and foreign investments, respectively, in the year to March 2019, said a deputy head of the AFTZ organization.
Despite unilateral US unilateral sanctions on Iran, Aras Free Trade Zone (AFZ) in northwest Iran attracted investments totaling $285.71 million in various sectors during March 21, 2018-January 20, 2019, indicating a growth of 29 percent compared to the figure for the same period of the previous year.
Iran has expedited the commissioning of Khodafarin hydroelectric power plant and has almost completed the construction of Khodafarin Dam over the Aras River on the border with Azerbaijan in the last two months, Mahmoud Vaezi, Iran's minister of communications and information technology told Trend News Agency.