TEHRAN- The value of domestically-made products exported from Iran’s free zones stood at $17 billion in the past Iranian calendar year (ended on March 20, 2019), according to an official with Iran’s Free Zones High Council.

In an interview conducted by IRIB, Akbar Eftekhari, the deputy secretary of Free Zones High Council for production, exports and technology affairs, also put the value of commodities produced in the free zones at $28 billion in the past year.

The official said that about 500,000 people are working in 1,700 production units in the country’s free zones.

There are seven free trade zones and 25 special economic zones in Iran, according to Eftekhari.

And as previously announced by Morteza Bank, the secretary of Free Zones High Council, 2600 industrial, service and tourism units are operational in Iran’s free trade zones.

The official said 1.3 quadrillion rials (over $30.95 billion) of investment have been made in these zones over the past five years.

Free zones play some significant role in development of the country, Bank noted.

Establishment of free trade zones in Iran dates back to 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 the non-oil exports.

The first two free trade zones of Iran were established in the south of 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.

MA/MA