CHABAHAR: Hundreds of containers lie idle in the scorching sun that pounds Iran’s southeastern port of Chabahar, a free trade zone crippled by decades of international sanctions.
But against the backdrop of nuclear talks between Tehran and world powers, authorities hope foreign investors will finally wise up to the “golden opportunity” of doing business in Chabahar, Iran’s only gateway to the Indian Ocean.
Between 2006 and 2010, the UN Security Council adopted six resolutions , four of which imposed sanctions, over Iran’s nuclear and missile programmes.
Since 2012, the United States and the European Union have also applied a series of unilateral sanctions that specifically target the energy and banking sectors.
In early April, however, Tehran and six world powers reached a framework agreement aimed at paving the way for a final nuclear deal by the end of June.
The deal is aimed at preventing Iran from developing nuclear weapons in exchan e for an easing of the sanctions.
The United States, one of the six world powers negotiating with Iran along with Britain, China, France, Russia and Germany, has said sanctions would be lifted in stages as the deal is implemented.
For Chabahar Free Zone (CFZ), an accord cannot come soon enough. The port is located in Sistan-Baluchistan province and provides countries in southeast and central Asia with a gateway to trade with Iran.
A brochure lists “the golden investment opportunities” of doing business here, such as 20 years of tax exemptions, reduced customs rights and a 100 percent guarantee on invested capital and profits.
About 2,000 companies already have a presence in the free trade zone, which was first set up in 1994.
Half of them are from Pakistan, Afghanistan and the Gulf, while 30 percent are from China and other Asian countries. The remaining 20 percent are from the West.
“Our policy is to have as many investors as possible,” said Saeed Moghadam, the CFZ executive director for investments.
Fifteen years from now Chabahar “will function as a megaport with a traffic capacity of 80 million tonnes”, said CFZ deputy chairman Ali Hamad Mobaraki.
There are plans to turn the zone into a hub for petrochemical activities as well as developing it into a tourist destination.
he CFZ already has a large commercial area where consumers can snap up goods that are 30 to 40 per cent cheaper than in the rest of Iran.
“People come from all over the country to buy,” said Nematollah Rastegar, manager of an electrical appliances shop in the CFZ.
“Life is getting better here. There is progress. They are building houses”.
