An announcement was made on February 25 by Deputy Commerce Minister stating the President's desire to set up a gold and jewelry special trade zone in Qeshm Island.
President Mahmud Ahmadinejad, along with the cabinet has approved the proposal for the establishment of the special zone and further reiterated that preparations for the same will be initiated as soon as possible.
The proposal originated during a meeting held between Trade Promotion Organization of Iran (TPOI) and Export Development Fund for Gold and Jewelry.
The prospect of coming up with this special zone is likely to strengthen Iran's position in the international sphere as well as promote trade relations with other regions.