Kish Island, Persian Gulf, Feb 27, IRNA - Iran's Kish island and Iraq's Kurdistan province signed a letter of understanding for bilateral economic cooperation Monday evening.

The document was signed in Kish by a member of the Board of Directors of Kish Free Trade Zone Organization (KFTZO), Mehdi Chaman-Zadeh, and Iraqi President Jalal Talabani's Commercial Advisor Abdullah Maroof.

Speaking to IRNA on the sidelines of the signing ceremony, Chaman-Zadeh said the document would go a long way in advancing economic ties between the two neighboring states.

He expressed hope the agreement will bring greater economic advancement to the Iranian island.

The agreement provides for establishment of direct flights between the island and the province.

It also facilitates transit of goods via Kish Island and other southern Iranian port cities to Iraqi Kurdistan.

According to the signed document, the province also commits to invest in various Kish island economic activities in industry, public services, tourism and entertainment.

... Payvand News - 2/27/07 ... --