Acting Iranian president offers SCO to conclude trade agreements

Acting Iranian President Mohammad Mokhber has proposed that the countries of the Shanghai Cooperation Organization (SCO) create common free economic zones (FEZs) and conclude preferential trade agreements, Report informs referring to TASS.

“Since transit and commercial activities are considered complementary, we propose to initiate at the organizational level the creation of a network of common free [economic] zones and conclude economic agreements such as preferential and free trade agreements,” he said at the SCO summit in Astana.

He noted that the activation of transit corridors plays a key role in simplifying trade processes, as well as in economic development and, as a consequence, in the political stability of member countries.

He also said that SCO members can reduce trade costs and reduce the time of some processes by using the North-South transit corridor and southern ports of Iran for trade.