TEHRAN – Iranian Free Zones High Council signed a cooperation memorandum with the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) on Saturday, Freena reported.

As reported, the memorandum was signed by TCCIMA Head Mohammad Najafi-Arab and Secretary of Free Zones High Council Hojatollah Abdolmaleki.

Based on the memorandum the two sides will cooperate on promoting, facilitating and attracting foreign capital and technologies as well as facilitating foreign trade with the aim of internationalizing the countries’ free zones.

Speaking at the signing ceremony, Abdolmaleki said free trade and special economic zones are an investment heaven for various reasons including low cost of production, the existence of good and desirable infrastructure, proper access to markets, ease of doing business, and tax and customs exemptions.