These results continue our studies of integrable generalized Heisenberg ferromagnet-type equations (GHFE) and their equivalent counterparts. We consider the GHFE which is the spin equivalent of the Zakharov-Ito equation (ZIE). We have established that these equations are gauge and geometrical equivalent to each other. The integrable motion of space curves induced by the ZIE is constructed. The 1-soliton solution of the GHFE is obtained from the seed solution of the ZIE.
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