Commerce and industry chambers of Yerevan and Tehran sign memorandum on expansion of relations

YEREVAN, July 16. / ARKA /. The commerce and industry chambers (CIC) of Yerevan and Tehran signed today a memorandum on expansion of economic, technological and cultural relations. The document was signed during an Armenian-Iranian business forum, hosted by the Armenian capital city.

"This memorandum will become  a platform for practical steps to deepen bilateral trade and economic relations. Such forums are the first steps to bring closer the business people from both countries,’ deputy Armenian economy minister Ara Petrosyan told ARKA.

The forum presented the opportunities of Iranian free trade and industrial zone Aras that provides a number of benefits to businesses and entrepreneurs wishing to establish or organize production, storage and transportation of goods in the area.

The president of Tehran Commerce and Industry Chamber, Sadeq Khazerlu said Armenian business people may be interested in one of the four areas of Aras zone, located across the Armenian town of Meghri. He said some of the privileges of the zone are s a 20-year exemption from taxes and duties, simplified  import and export of goods, registration of foreign companies within  24 hours, as well as free entry and exit of foreign nationals.

Aras free trade and industrial zone is located in the north-west of Iran, bordering with Armenia, Azerbaijan and Nakhichevan. The total size of the area is 51 hectares. It is divided into 4 areas and covers parts of two Iranian cities f Julfa and Kaleybar. -0-