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Russia and Iran Initiate the International Union of Economic Zones of the INSTC

On February 28th, the 17th meeting of the Russia-Iran Joint Economic Cooperation Commission was held under the chairmanship of Alexander Novak, Deputy Chairman of the Government of the Russian Federation, and Javad Owji, the Minister of Petroleum of the Islamic Republic of Iran. Representatives of government agencies, business structures, logistics companies and other organizations were among the participants.

 During the event, a memorandum on the establishment of the International Union of Special and Free Economic Zones of the INSTC was signed between the Technologies and Logistics Union (the Russian Federation) and the Anzali Free Trade-Industrial Zone (the Islamic Republic of Iran).

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

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

 – The creation of the International Union of Economic Zones will give a significant impetus to the establishment and development of the Trans-Caspian route of the INSTC. The signed memorandum will facilitate the international coordination of efforts in production cooperation and logistics, and the removal of barriers caused by differences in the legislation of our countries. The cooperation will not be limited to the representatives of Russia and Iran – it is planned to invite other Caspian Sea countries and countries interested in the development of the INSTC to join the International Union, – comments Sergey Milushkin.

In 2023, the non-profit organization Technologies and Logistics Union was registered in Russia with the aim of establishing the International Union of Economic Zones and developing the production, logistics, and trade chains between SEZs and FEZs of the Caspian region and the countries of the INSTC. SEZ Lotus JSC, SEZ Technopolis Moscow JSC, and ANO Directorate of International Transport Corridors became the founders of the Union.

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