NEW DELHI-- India's participation at the first International Exhibition of Chabahar FreeTrade Zone (CFTZ), to be held from 7-12 September, 2003, at Chabahar, Iran, would provide the Indian business community with a great insight and access to the vast potential market in Afghanistan and the Central Asian States.

The officials from Chabahar Port stated this at an interactive session organized by the Confederation of Indian Industry (CII), in New Delhi, News Today, a South India's English evening newspaper reported.

They said that Chabahar Free Trade Zone is governed by a special set of laws, offering investors substantial advantages compared to an investment in the Iranian mainland. This allows investors to take fill advantage of the various business opportunities in Iran and the region without suffering from regulatory restrictions.

Saeed-uz-Zakerin, advisor to the chairperson, Chabahar Free Trade Zone, said that by many standards, Iran could be considered as one of the most promising emerging markets in the Middle East.

He said that in the past Iran's free trade zones, including Chabahar, have not always lived up the potential but substantial changes have taken place now. “We hope Chabahar Free Trade Zone can play an important role in business development of Iran and other participating countries,” Zakerin added.

Presenting Chabahar as an attractive business destination, Zakerin said that state-of-the-art infrastructure in the trade zone can provide all the necessary impetus for a flourishing trade. He said that Chabahar has two to three daily flights from Tehran, besides modern luxurious hotels.

Chabahar also has internet facilities and most importantly, has two jetties, one of them can handle ships up to 35,000 tones, he said. Zakerin said that improvement of telephone network and completion of a desalination plant is underway. He was of the view that companies that establish their transit base in the zone will benefit from a proper transportation infrastructure.

He said that there are many transport companies and forwarding agents active in Chabahar and the zone is connected with the Afghan border by a well-developed road network. An entrepreneur friendly environment with no bureaucratic hassle that strives to support investors in every possible manner complements favorable laws and advanced infrastructure.

A CII press release said Zakerin was of the view that after the recent political developments in Afghanistan, the importance of the Chabahar Free Trade Zone increased manifold due to its proximity with the Afghan border. In addition, Chabahar can be a gateway for exporting goods to the countries around Persian Gulf, Russia, and other CIS countries.

He said that Chabahar offers a suitable environment to investment and holding companies. They can take advantage of the possibility of unlimited foreign ownership, 15-year tax exemption, liberal banking and foreign exchange operations as well as the free import and repatriation of capital and profit.

Chabahar Free Zone Organization has established four different service centers to provide with expert advice assist and act as central contact point to the investors. Welcoming the officials, Ashok Madhukar, Principal Adviser (Strategic Development) Afro Asian Development Consortium, said that India could take advantage of the Chabahar Trade Zone and establish a booming business with Iran and the neighboring countries.

Representatives of various Indian industries attended the session and took part in a highly interactive session with the port officials.