Turkey to build industrial city in Iran

IRAN-OIL-EU-SANCTIONSHead of Iran’s Chamber of Commerce Mohsen Jalalpour said that Turkey is planning to construct an industrial city in Iran, ISNA reports.

“Istanbul’s Chamber of Industries will build an industrial city with 140 units in Iran,” Jalalpour told reporters on June 15,

He reiterated that Turkey will invest $10 billion in the construction of the industrial city, and said, “85 percent of the workforce of the industrial city will be Iranians and the remaining 15 percent can be Turks.”

In late April, Iranian and Turkish officials in a meeting in Ankara agreed on joint investments in the construction of industrial parks.

The agreement was reached between Managing Director of Iran’s Small Industries and Industrial Parks Organization Ali Yazdani and officials of Turkish Ministry of Science, Industries and Technology in Ankara.

The two sides also agreed that a Turkish delegation would visit Iran in the near future to inspect specific industrial towns and become acquainted with the governing rule of regulations to help boost investment incentives.

In mid-April, Iran and Turkey signed 8 cooperation agreements in a bid to broaden bilateral ties, FNA reported.

The agreements were signed in the presence of Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyip Erdogan in Ankara.

Under the deals, Iran and Turkey agreed to cooperate in social security matters, fight against goods smuggling, including antiquities, food and agriculture, legal and academic affairs, industrial standard and technical research, standardization, justice and judicial training.

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