Iran is working toward establishing a joint free trade zone with Türkiye, as part of broader efforts to address long-standing investment issues and enhance cooperation with neighboring countries, according to the secretary of Iran’s Free Trade and Special Economic Zones High Council.
Speaking to Tasnim News Agency, Reza Masrour said a special task force has been formed to resolve unresolved projects that have lingered in Iran’s free zones for over 15 years, The Caspian Post reports.
“We are actively following up on the establishment of a joint free trade zone with Türkiye,” he noted, adding that a joint working group between Iran and Türkiye will take charge of advancing the plan.
Masrour stressed the need for a major shift in investment strategy across the country’s free trade zones, stating, “We must move decisively beyond what was done in the past. Investment incentives should be swiftly approved and implemented by each zone’s board of directors.”
To facilitate bilateral cooperation, a joint forum is planned for July this year, bringing together Iranian and Turkish free zone officials and investors in one of Iran’s free trade zones.
The official said that each zone must update its investment offerings and identify sector-specific priorities to attract investors based on its unique capacities. He added that investor satisfaction is critical, and new investment decisions are often influenced by the experiences of previous investors.
He criticized prolonged unresolved projects, noting that some have remained inactive for up to 15 years. “Creating task forces is necessary, but not enough. Problems must be addressed fundamentally. CEOs must be personally involved, and outcomes should be achieved within six months.”
Masrour said feasibility studies are underway to create similar joint zones with Pakistan, Azerbaijan, and Turkmenistan. He also announced that a bylaw for a Financial Support Agency would soon be issued, aimed at facilitating investment inflows to free zones.
Emphasizing that free zones are intended for production and export-not domestic consumption-he warned that using them merely as a sales point for the internal market would lead to complications.
He further underscored the importance of local community satisfaction in investment success. “In areas with strong local presence, gaining public support is crucial. Projects must be transparent so that local populations can back them,” he said.
Highlighting the government’s broader service-oriented approach, he noted that community satisfaction has become a key metric in evaluating the performance of free zones.
He called for closer coordination between free zone managers and the council’s secretariat, urging them to actively attract knowledge-based companies by offering tailored incentives and permits.
Masrour concluded by stressing the importance of improving infrastructure for tourists and managing the proliferation of electric scooters in Kish Free Zone, as part of efforts to enhance public health and safety.
