News ID: 174673
Published: 0546 GMT December 28, 2016

Armenian-Iranian border free trade zone will be launched in April

Armenian-Iranian border free trade zone will be launched in April

Armenia is taking steps to ensure the access of its products to regional states, as well as to significantly increase exports, Armenian Minister of Economic Development and Investments Suren Karayan told reporters on Wednesday.

"We are in talks with Iran's Standards and Industrial Research Institute on making the certification results conducted in Armenia recognizable in Iran, as well as on opening representations or branches of food and non-food products conformity assessment bodies in Armenia. This will allow Armenian products to enter the Iranian market without any barrier after receiving compliance standards in Armenia," Armenpress quoted Karayan as saying.

The government expects respective authorities in Iran to visit Armenia in the first quarter of 2017, and the relevant agreements will be signed to implement the outlined steps.

At the same time, measures are taken to establish free economic zone on the border with Iran. The minister informed that the concept of the free economic zone has been prepared and submitted for government's discussion.

"It is expected that we will launch the free economic zone in April to provide broad opportunities for attracting new investment projects and intensify Armenia-Iran trade," he said.

He also identified one more important step for access to the Iranian market as the replacement of excessive contribution charges set for passenger vehicles with insurance payments as a result of which the amount of payments has been cut by nearly three times.

This, he added, will also provide great opportunities for further increasing traffic movements providing Armenian businessmen to get better acquainted with the Iranian market and increase opportunities for cooperation.

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