Arab Today, arab today irans chabahar free zone awaits end of sanctions
Last Updated : GMT 01:27:57
Arab Today, arab today
Arab Today, arab today

Iran's Chabahar free zone awaits end of sanctions

Arab Today, arab today

Arab Today, arab today Iran's Chabahar free zone awaits end of sanctions

Iranian workers transfer goods
Chabahar - AFP

Hundreds of containers lie idle in the scorching sun that pounds Iran's southeastern port of Chabahar, a free trade zone crippled by decades of international sanctions.

But against the backdrop of nuclear talks between Tehran and world powers, authorities hope foreign investors will finally wise up to the "golden opportunity" of doing business in Chabahar, Iran's only gateway to the Indian Ocean.

Between 2006 and 2010, the UN Security Council adopted six resolutions, four of which imposed sanctions, over Iran's nuclear and missile programmes.

Since 2012, the United States and the European Union have also applied a series of unilateral sanctions that specifically target the energy and banking sectors.

In early April, however, Tehran and six world powers reached a framework agreement aimed at paving the way for a final nuclear deal by the end of June.

The deal is aimed at preventing Iran from developing nuclear weapons in exchange for an easing of the sanctions.

The United States, one of the six world powers negotiating with Iran along with Britain, China, France, Russia and Germany, has said sanctions would be lifted in stages as the deal is implemented.

For Chabahar Free Zone (CFZ), an accord cannot come soon enough.

The port is located in Sistan-Baluchistan province and provides countries in southeast and central Asia with a gateway to trade with Iran.

A brochure lists "the golden investment opportunities" of doing business here, such as 20 years of tax exemptions, reduced customs rights and a 100 percent guarantee on invested capital and profits.

About 2,000 companies already have a presence in the free trade zone, which was first set up in 1994.

Half of them are from Pakistan, Afghanistan and the Gulf, while 30 percent are from China and other Asian countries. The remaining 20 percent are from the West.

"Our policy is to have as many investors as possible," said Saeed Moghadam, the CFZ executive director for investments.

Fifteen years from now Chabahar "will function as a megaport with a traffic capacity of 80 million tonnes", said CFZ deputy chairman Ali Hamad Mobaraki.

- Prosperity and infrastructure -

There are plans to turn the zone into a hub for petrochemical activities as well as developing it into a tourist destination.

The CFZ already has a large commercial area where consumers can snap up goods that are 30 to 40 percent cheaper than in the rest of Iran.

"People come from all over the country to buy," said Nematollah Rastegar, manager of an electrical appliances shop in the CFZ.

"Life is getting better here. There is progress. They are building houses".

Yet activity in the port area has struggled to take off and there is still only one crane to unload containers.

"Many foreign companies left" after the West slapped international sanctions on Iran for relaunching its controversial nuclear programme in 2005, said Moghadam.

But the tide appears to have turned slightly since 2013, when Iran and world powers began talks aimed at a breakthrough on the nuclear issue.

According to Moghadam, 250 companies have made a "partial comeback" to Chabahar while "US, Canadian and French companies have shown great interest."

"We have already begun to negotiate contracts" with interested partners, he said, adding that he expected deals to be signed quickly if a nuclear deal is finalised by its end-of-June target date.

In early May, India signed a multi-million memorandum of understanding with Iran to develop Chabahar port.

The move aims to provide India with access to Afghanistan that bypasses Pakistan, and help it compete with China, which is investing heavily in the Pakistani port of Gwadar.

And in an effort to reach their goals, authorities are trying to improve infrastructure in and around Chabahar.

Projects include the construction of a railway to link the port to provincial capital Zahedan, building a highway and hotels, as well as revamping the local airport.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today irans chabahar free zone awaits end of sanctions Arab Today, arab today irans chabahar free zone awaits end of sanctions

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday