TEHRAN- Iran’s Chabahar Free Trade Zone Organization and the Kyrgyz Republic’s Bishkek Free Economic Zone signed a memorandum of understanding (MOU) in Tehran for cooperation on transit, transportation, logistics and tourism areas.

The MOU was signed on the sidelines of the 2nd International Summit for Presenting Investment Opportunities in Makran Shores (in southeastern Iran), which was commenced on Sunday and will wrap on Tuesday, IRNA reported.

Lying on the coast of the Gulf of Oman in Iran’s southeastern Sistan-Baluchestan Province, Chabahar is the country’s only oceanic port and given its strategic location in the International North-South Transport Corridor (INSTC) development of the port is of high significance for Iran.

Once transportation infrastructures are complete in Chabahar it will serve as the gateway to regional economies, according to Iranian Transport and Urban Development Minister Abbas Akhoundi.

EF/MA