Tuesday, 26th February 2008 (1108 views)

Iranian president Mahmud Ahmadinejad has announced that a special gold trade zone is to be established in Qeshm Island, it has been reported.

According to the Tehran Times, the area has been chosen due to its accessibility with other nations in the region.

The news source adds that the zone, which will also incorporate jewellery, was approved by the cabinet and will be set up as soon as possible.

And the decision follows the initial decision to establish such an area as made by Trade Promotion Organisation of Iran in its discussions with the Export Development Fund for Gold and Jewellery.

It is though that the zone will also help promote the country's trade relations in the region.

Meanwhile, Forbes has reported that the price of gold has moved up towards the record peaks it experienced last week, largely due to concerns over global inflation.

 

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