Armenia has opened a Free Economic Zone (FEZ) in the southern city of Meghri, on the border with Iran, with some 50-70 operators expected to be involved in the FEZ over the coming years.
Prime Minister Karen Karapetyan is quoted as saying:
“Our intentions are quite serious because we are convinced that the conditions to be created in the Free Economic Zone of Meghri and our country’s possibilities – I mean the trade regimes we enjoy with the EAEU and the European Union, neighbouring Iran and other countries – may provide very good opportunities for business expansion.
“We also expect our partners to be deployed here in a bid to enter the Iranian market. I am sure that the FEZ has very good prospects. We are glad to usher in the launch of the Free Economic Zone today, but note that hard work awaits.”
Armenian Minister of Economic and Development Suren Karayan added:
“Creation of a free economic zone in Meghri is also important because it opens the border with Iran, which will give an additional impetus to the activation of trade and economic relations between the two countries, involving companies with Iranian capital, strengthening existing close cooperation.
“Unlike the two existing free economic zones, this one will have a large sectoral scope, including agriculture, processing, trade, transportation and storage, tourism and other spheres.”
FAR Law Firm