Archive: January 24, 2017

Free Trade Zones and Special Economic Zones in Iran

January 24, 2017

Free Trade Zones:

According to article 1 of The Law on the Administration of Free Trade – Industrial Zones of Islamic Republic of Iran”(LAFTIZ)” the government is authorized to administer the following zones as the Free Trade-Industrial Zones in accordance with ” LAFTIZ” and the other legal principles in order to accelerate the accomplishment of infrastructures, development, economic progress, investment, increase of public income, creation of productive employment, regulating of goods and labor market, to be actively present in regional and world market and to produce and to export the industrial and processing goods as well as rendering public services.

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Rise of Asia Infrastructure Investment Bank (AIIB)

January 8, 2017

In September 2016, the Islamic Consultative Assembly of Iran ratified[1] the Act of Membership of Islamic Republic of Iran in the Asia Infrastructure Investment Bank (AIIB), a Multinational Development which is governed under China’s leadership.

Fifty-seven founding members have signed the Articles of Agreement since it was opened for signature on June 29, 2015. Remaining Signatories that have not yet deposited their instruments of ratification but they are expected to do so shortly and become members thereafter.[2] The Articles were signed in English, Chinese and French texts, which are equally authentic and consists of 60 Articles.