Russia and Iran laid the foundation for the formation of the International Union of the INSTC Economic Zones

On February 28, 2024 the 17th meeting of the Joint Economic Commission between the Islamic Republic of Iran and the Russian Federation was held in Tehran under the chairmanship of the Deputy Prime Minister of the Russian Federation Alexander Novak and Minister of Oil of the Islamic Republic of Iran Javad Ouji. The representatives of government authorities, business structures, logistics companies and other organizations of the two countries were among the participants of this event.

As part of the event, a Memorandum on the Establishment of the International Union of Special and Free Economic Zones of the International North-South Transport Corridor was signed between the Union "Technologies and Logistics" (Russian Federation) and the free trade and industrial zone "Anzali" (the Islamic Republic of Iran).

The document was signed by Sergey Milushkin, Co-Chairman of the Union of Technologies and Logistics, Director General of SEZ Lotus JSC and Mohammad Sajjad Siahkarzadeh, CEO and Chairman of the Board of Anzali Free Trade-Industrial Zone.

The memorandum is aimed at increasing the level of economic cooperation between the represented countries through the interaction of management companies and associations of special (free) economic zones.

- The establishment of the International Union of Economic Zones will give a significant impetus to the formation and development of the Trans-Caspian part of the INSTC. The signing of this memorandum will help to coordinate efforts at the international level in the field of industrial cooperation, logistics and to remove the barriers related to the differences in the legislation of our countries..

Cooperation will not be limited only to the representatives of Russia and Iran. It is planned to involve other countries of the Caspian Region and states interested in the development of the INSTC," comments Sergey Milushkin.

In 2023 the non-profit organization of the Union "Technologies and Logistics" was registered in Russia for the purpose of creating the International Union of Economic Zones, development of production, logistics and trade chains between SEZs and FEZs of the Caspian Region and the INSTC countries. This organization was founded by SEZ Lotus JSC, SEZ Technopolis Moscow and Autonomous Non-Commercial Organization of the International Transport Corridors Directorate.
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