[Iran Completes Procedures for Joint Free Trade Zone with Turkey in Khoy] According to the Iranian news agency IRNA, Iranian officials stated that Iran has completed the necessary legal and administrative procedures for establishing a joint free trad

2026-08-30

[Iran Completes Procedures for Joint Free Trade Zone with Turkey in Khoy] According to the Iranian news agency IRNA, Iranian officials stated that Iran has completed the necessary legal and administrative procedures for establishing a joint free trade zone with Turkey in Khoy, in the country's northwest. It is currently awaiting further action from Turkey to advance and finalize the project. Hossein Frouzan, Secretary of the Supreme Council for Free Trade Industrial Zones and Special Economic Zones of Iran, stated that after negotiations between the two countries, the proposed joint free trade zone has entered the legal process, and the Iranian government has approved the project. The project will be implemented based on a bilateral memorandum of understanding. He emphasized the strategic importance of the Razi border crossing, calling it a vital trade route between Iran and Türkiye.