Chabahar Free Trade-Industrial Zone
Free trade zone in Iran From Wikipedia, the free encyclopedia
Chabahar Free Trade–Industrial Zone (CFZ) (Persian: منطقه آزاد تجاری-صنعتی چابهار) is an Iranian free trade zone formed according to the law on the establishment and administration of free trade–industrial zones .
| Company type | Free Economic Zone |
|---|---|
| Headquarters | , |
| Website | http://www.cfzo.ir/ |
Chabahar free trade–industrial zone was established in 1992 along with the two other free trade zones Qeshm and Kish Island to use global expertise (mostly from South East Asia) as a tool for the development of the country, accelerating the accomplishment of infrastructure, creation of employment, and representation in global markets.[1]
Main activities
The Chabahar Free Trade-Industrial Zone commenced its operations in 1995, with a primary focus on five major areas: the transit of merchandise goods, investment attraction and related services, tourism, construction and urban development, and education. These activities are overseen by the Chabahar Free Trade-Industrial Zone Organization, which is under public control.
May 2016 agreements between Iran and India
After overseeing a series of agreements intending to develop the Port of Chabahar, India's Highways and Shipping Minister, Nitin Gadkari suggested that the Chabahar Free Trade-Industrial Zone had the potential to attract upwards of $15 billion worth of investment in the future,[2] although he stated that such investments are predicated upon Iran offering India natural gas at a rate of $1.50 per million British Thermal Units,[3] which is substantially lower than the rate of $2.95 per million British Thermal Units offered by Iran.[4] The two countries also signed a memorandum of understanding to explore the possibility of setting up an aluminum smelter at a cost of $2 billion,[citation needed] as well as establishing a urea processing facility in Chahbahar,[5] although these investments are also contingent upon Iran supplying low-cost natural gas for operation of those facilities.[6]
See also
References
External links
Further reading
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