Azerbaijan, Iran to launch special economic zone in Astara

  31 October 2017    Read: 725
Azerbaijan, Iran to launch special economic zone in Astara

“Tehran supports Azerbaijan’s initiative to launch a special economic zone in Iran’s Astara city,” said Minister of Economic Affairs and Finance of the Islamic Republic of Iran Masoud Karbasian.

Karbasian said Iran is ready to help Azerbaijan invest in the establishment of a special economic zone in Astara.

According to the minister, the economic zone will be highly beneficial for both sides. “First of all, due to lower tax rates in such zones the investors are able to get revenue much sooner. Azerbaijan’s initiative will contribute to the development of the two countries` border regions and improve the social well-being of the population,” Karbasian added.

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