Armenia to Create Free Trade Zone near Iran Border: PM

TEHRAN (Tasnim) - Armenian Prime Minister Karen Karapetyan unveiled his country’s plans to create a free trade zone near its common border with Iran that would involve European and Eurasian investors.

Armenia to Create Free Trade Zone near Iran Border: PM

In a meeting with Iranian Parliament Speaker Ali Larijani in Tehran on Monday, the visiting Armenian prime minister said Yerevan has invited the Eurasian and European parties to get involved in the free trade zone that is going to be formed at a border area near Iran.

Highlighting Europe’s enthusiasm for investment in Iran, Karapetyan said the planned free trade zone would be of significance for the foreign businesses given its proximity to Iran, noting that Iranian merchants could also lead to an economic boom in that zone by taking an active role.

He further expressed Armenia’s willingness to form a new shape of relations with Iran with a new outlook.

For his part, Larijani pointed to the grounds available in Iran and Armenia for reciprocal investment, saying the two neighbors should develop a clear understanding of each other’s trade needs.

He also hailed the decision to remove visa requirements for travels between Iran and Armenia, saying it has greatly helped the tourism industry in both countries.

Heading a high-ranking delegation, Karapetyan started his official visit to Iran on Monday at the invitation of Iranian First Vice-President Eshaq Jahangiri.    

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