TEHRAN – The Higher Council for Iran’s Free Trade Zones has proposed a bill based on which the northwestern border city of Jolfa will be annexed to Aras Free Trade Zone.

Majlis (Iran’s parliament) has allowed the government to annex vast areas located near the nation’s northern borders with Azerbaijan Republic to Aras Free Trade Zone, noted on Monday, Mohammad-Taqi Zamanian, an official with the free trade council.

He pointed to the need for the governmental investments in the region and commented that required infrastructures should be first provided in the area so that investors would be encouraged to make investments in the free trade zone.

He further complained about lack of coordination between the regional officials on the issue and maintained that annexation of the adjacent areas to the zone would result in the economic development of the East Azerbaijan Province.