Armenia and Iran agree to set free economic zone

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Economy

17.07.2012, 20:13

Armenia and Iran intend to create a free trade zone on their border near Norduz, Iranian news agency IRNA said, citing the caretaker of Aras Free Trade Zone Sadeq Najafi who made the remarks in a meeting with the governor of southern Armenian province of Syunik, during which the two sides inked a Memorandum of Understanding (MoU) on cooperation in investment, trade and environmental sectors. The MoU was signed by Sadeq Najafi and Syunik governor Surik Khachatrian during Najaf’s three-day visit to the province.

Armenia and Iran agree to set free economic zone

YEREVAN. July 17. /ARKA/. Armenia and Iran intend to create a free trade zone on their border near Norduz, Iranian news agency IRNA said, citing the caretaker of Aras Free Trade Zone Sadeq Najafi who made the remarks in a meeting with the governor of southern Armenian province of Syunik, during which the two sides inked a Memorandum of Understanding (MoU) on cooperation in investment, trade and environmental sectors. The MoU was signed by Sadeq Najafi and Syunik governor Surik Khachatrian during Najaf’s three-day visit to the province.

"In this MoU, it was agreed that an Iranian-Armenian free trade zone will be established for joint investment by Aras Free Trade Zone and Syunik province," Najafi said in Armenia on Sunday.

The two sides also agreed to create a joint border market at Norduz border which is located within the boundaries of Aras Free Trade Zone, he added.

Najafi added that in order to facilitate the movement of transport from Armenia to Iran, the parties agreed to involve an Armenian insurance company, whose name was not specified.

Armenian government officials asked by ARKA to comment on IRNA report, refused to do so. -0-

#FREE ECONOMIC ZONE

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