Basra approves free trade-zone with Iran

BASRA / IraqiNews.com: Basra‘s Investment Commission granted a permission to start a free trade-zone area with Iran. “The project was proposed by a local firm,” a source from the commission told IraqiNews.com news agency on Tuesday. He said that the firm will invest $16.2 million in the project over a period of 25 years. The oil-rich city of Basra lies 590 km south of Baghdad. MH (P)/SR 2