Iran, Turkey set to negotiate joint free trade zone agreement
Iran’s High Council of Free Trade Zones Secretariat announced on Sunday that it had been authorized to begin negotiations with Turkey on a bilateral agreement to establish a joint free trade zone, following formal approval by the Cabinet.
“In accordance with a decision by the Cabinet, permission to negotiate the agreement on establishing a joint free trade zone between the Islamic Republic of Iran and the Republic of Turkey has been issued,” the secretariat said in a statement cited by Mehr news agency.
The government approved the measure on January 14, authorizing the Secretariat of the High Council of Free Trade and Special Economic Zones to conduct negotiations on the proposed agreement. The decision was formally communicated by the first vice president on January 19.
Under the directive, the secretariat is permitted to carry out negotiations solely on the draft agreement — up to the point of final ratification — in coordination with and in the presence of representatives from the presidential legal vice presidency (International Agreements Affairs) and the Ministry of Foreign Affairs.
“The agreement aims to enhance economic cooperation, boost trade exchanges, facilitate the transit of goods and passengers, generate employment opportunities, stimulate border regions, and fully uphold the principles of national sovereignty and territorial integrity of both countries,” the secretariat said.