Iran proposes establishment of free trade zone between Caspian states

Iran proposed discussing the establishment of a free trade zone among the littoral countries of the Caspian region. The idea was announced by the First Vice President of the country Mohammad Reza Aref during the 3rd Caspian Forum in Tehran.

"We believe that cooperation between the Caspian countries and the decision of the five states will create the opportunity for the establishment of joint free trade zones. The Iranian side has officially sent the initial draft of a cooperation agreement to the littoral countries regarding the creation of free trade zones",

Mohammad Reza Aref said.

He also brought up for discussion the possibility of creating a "Union of Littoral Regions of the Caspian Countries" for economic and trade cooperation, adding that Iran is ready to host the first meeting of the union this year.

Let us remind you that the 3rd Caspian Forum is taking place in the capital of Iran on February 17-18.