PARLIAMENT ALLOWS EXPANDING AFZ

Tehran Times, Iran
June 15 2006

TEHRAN – Majlis (the Iranian Parliament) ratified on Sunday the
development plan of Aras Free Zone (AFZ).

According to the ratification approved at the Majlis’ open session
yesterday, the government is allowed to develop Aras Free Zone in
the country’s border lines with the Azerbaijan Republic and Armenia.

The costs of implementing the plan are to be supplied out of the
revenues generated in the free zone.

Accessibility to the markets of the newly independent states in Central
Asia, creation of new export opportunities, attraction of foreign
investments, development of railway to China and Russia, expansion of
tourism, increase of security in northwestern parts of the country, and
generation of job opportunities in these regions are some of reasons
behind putting the development plan of the free zone on the agenda.