September 30, 2023

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Export from Maku Free Zone stands at nearly $420m since Mar. 2021

TEHRAN- As announced by an official with Maku Free Trade Zone Organization, the value of export from this zone stood at nearly $420m since the Iranian calendar year 1400 (March 2021-March 2022).

Fereydoun Fadaei, the deputy managing director of the organization for economic and investment-making affairs, also announced that export from the zone to the mainland stood at nearly 105 trillion rials (about $215 million) during the mentioned time span.

As previously announced by the commercial director of Maku Free Trade Zone Organization, services and commodities valued at $234 million were exported from the Maku FTZ, in Iran’s northwestern province of West Azarbaijan, in the past Iranian calendar year 1401 (ended on March 20).

Ali Qanbari said that services worth over $223 million, and commodities valued at $10.68 million were exported from the zone during the previous year.

Maku is one of the seven major free zones of Iran.

It has 140 kilometers of border with Azerbaijan Republic and 130 kilometers of border with Turkey.

As Maku is among the most newly-established and also the largest free zones of the country, there is a high need for the creation of infrastructures in this zone.

The establishment of free trade zones (FTZs) in Iran dates back to the Iranian calendar year 1368 (March 1989 – March 1990) following the fall in the country’s oil income in the preceding year which prompted the government to promote non-oil exports.

The first two free trade zones of Iran were established in the south of the country. The first one was Kish Free Trade Zone established in 1368 on Kish Island in the Persian Gulf and the second one was Qeshm Free Trade Zone established the year after on Qeshm Island in the Strait of Hormuz. 

Some five other free trade zones have been also established in the country since then, including Chabahar in southeastern Sistan-Baluchestan Province, Arvand in southwestern Khuzestan Province, Anzali in northern Gilan Province, Aras in East-Azarbaijan Province and Maku in West-Azarbaijan Province, both in the northwest of the country. 

The development of existing free trade zones and the establishment of new FTZs has become one of the major economic approaches of the Iranian government.


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