Iran to Create Free Economic Zone Near Border with Turkmenistan

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Inche Burun city is located along the Kazakhstan-Turkmenistan-Iran railway corridor.

The Governor of the Iran’s northern province of Golestan Hadi Haqshenas said that the bill to create a free economic zone in Inche Burun on the border with Turkmenistan has been approved by the country’s Expediency Council, the Iranian Mehr News Agency reported on Wednesday.

The governor said the Inche Burun provides a unique capacity for the Iranian economy and the deepening of Iran’s cultural relations with Turkmenistan and other Central Asian countries.

Haghshenas added that the Expediency Council’s decision on Inche Burun will lead to the strengthening of the Iran’s position in practice in the Eurasian Economic Union (EAEU).

Inche Burun city is located along the Kazakhstan-Turkmenistan-Iran railway corridor. The proposed free economic zone is expected to occupy an area of 12.5 thousand hectares.

The Expediency Council, Iran’s highest legislation vetting body, was established in 1988 by decree of Ayatollah Khomeini. It has two functions: first, it functions as an expert council advising the Supreme Leader of Iran in all policy areas; second, it may function as a legislative body in certain situations prescribed in the constitution of Iran.