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Khatami names adviser to run Iran 'sfree-trade zones

TEHRAN, July 21 (AFP) - President Mohammad Khatami has appointed a closea dviser to head the council overseeing Iran's free-trade zones, which are to be developed into industrial and offshore banking centers.

Hossein Nassiri, who is also a former director of the official IRNA news agency, replaces Morteza Alviri, who was named Tehran mayor in June, as secretary for the high council of free trade zones.

Iran 's three main free-trade zones, the Qeshm and Kish islands in the Gulf and Shah Bahar port on the Gulf of Oman, are slated to become industrial and offshore banking hubs.

In December, Iran 's parliament adopted a law on "government guarantees for foreign investments" in the free-trade zones.

However, investment in the zones is currently no more than 20 million dollars.

Iran 's powerful, conservative-dominated Expediency Council authorized Iranian insurance companies Saturday to set up independent offices in free-trade zones with domestic or foreign investment.

The conservative parliament had already opened the zones to foreign banking and insurance companies.Nassiri said Iran 's struggling economy "cannot be put into order by practicing a traditional outlook."

"Steps should be taken towards economic development through employment of advanced means.

"The Expediency Council's decision will enable the country to experience "the development and expansion of economicactivities, especially in the area of export promotion," he said.

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