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Turkey and Iran planning a free trade zone

by ChemOrbis Editorial Team -
  • 11/08/2015 (11:05)
According to local media reports, Turkey and Iran are planning to build a free trade zone near the Iran-Turkey border. The zone is planned to be built in Van province, Turkey as well as in Khoy province, Iran. The two countries are currently discussing the details regarding the free trade zone and the project will be realized following the agreements. As part of the project, the Turkish and Iranian railways will be connected for logistics purposes. Railway connections between the two countries will allow Turkey to act as a transportation hub for Iranian cargoes to be transported to Europe and Russia.

Within the free trade zone, companies from the two countries will enjoy multiple trade-based advantages. It was reported that following the recent Iranian nuclear agreement with world powers, many companies from Turkey and Iran showed interest for increasing business cooperation between the two countries as well as for a possible trade zone.

Turkey was one of the few countries which did not put sanctions on Iran.
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