Free trade zones, as defined by the World Bank, are small duty-free areas offering warehousing, storage, and distribution facilities for trade, transshipment, and re-export operations.  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 […]

Paris has suggested that Ankara, Cairo, Riyadh and Tehran join the Contact Group on Syria in the future, French Ambassador to Russia Sylvie Bermann told on Monday, adding that the five permanent member states of the UN Security Council did not see eye to eye on this matter. She said that later the permanent members […]

TEHRAN – Iranian oil ministry invited Turkish private sector to participate in the country’s energy projects with an estimated investment of $100 billion, Daily Sabah reported on Sunday quoting an Iranian oil official. Speaking at an international conference on Iranian energy in Istanbul, Amir Talebian, the adviser to Iranian Oil Minister Bijan Namdar Zanganeh, invited […]

TEHRAN – Iran’s oil minister said that Hungary is willing to buy more oil from Iran in the future while the banking relations between the two countries will improve. After a meeting with Iranian Oil Minister Bijan Namdar Zanganeh, Hungary’s Minister for National Economy Mihaly Varga declared that his country is willing to increase its oil […]

TEHRAN – The average daily production of gasoline in Iran during the first eight months of the current Iranian calendar year (March 21- November 21) reached 74.4 million liters to register an eight-percent rise compared to last year’s eight month output. The country’s refineries produced 68.8 million liters per day of gasoline during last year’s […]

TEHRAN – The move by Iran to increase bilateral trade with Qatar, following a Saudi-led blockade, has benefited the two countries, according to an expert. “Trade between Iran and Qatar increased by 117 percent in less than six months and it shows the short-term effect of this crisis and bodes well for both countries in […]

A cooperation document was inked between Hungarian bus manufacturer Ikarus and industrial holding of an Iranian bank. The Memorandum of Understanding was signed a joint meeting between Hungarian Minister of National Economy Mihaly Varga, who is heading a delegation to the Iranian capital, and Masoud Karbasian, Iran’s Minister of Economy. Varga is visiting the Iranian […]

TEHRAN- Federation of Iranian Food Associations became a member of United Nations Economic and Social Council (ECOSOC), the portal of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) reported on Sunday. The mentioned federation joined United Nations Economic and Social Council after becoming a member of UN’s NGOs. ECOSOC is one of the six […]

TEHRAN – South Korean Hyundai Rotem signed a deal worth 720 million euro in Tehran on Saturday on building 450 railbuses in Iran. The deal was signed between the South Korean company, the Iranian Rail Industries Development Company, and the Islamic Republic of Iran Railways, known as RAI. The duration of the contract will be […]

Iran inked a $720m contract with South Korea to buy 450 rail buses from the latter within 6-year period. Pointing to the fact that there are only 120 rail buses active in the country, Iran’s Minister of Roads and Urban Development Abbas Akhoundi added that the contract is worth € 720, adding the Iranian side had […]