Monday, September 04, 2006
Basra sets up free trade zone
Commerce
A free trade zone to do business with Iran has been set up in Basra. The provincial council in Basra has separate trade agreements with Iran. Provincial delegations travel to Iran and sign deals. They only notify the Baghdad government about their moves. It is estimated that Iran is currently Iraq's biggest trade partner worth approximately $3 billion in trade exchange. To assist the transport of its goods, Iran is constructing a highway linking the new zone to the provincial center, the city of Basra.
