Free economic zone in southern Armenian to create 2,500 new jobs and increase Armenian exports by 30% - deputy minister says
19.01.2017,
17:17
A free economic zone that Armenia is planning to launch later this year near the southern town of Agarak not far from the border with Iran, will create 2,500 new jobs and increase Armenian exports by 30%, Deputy Minister of Economic Development and Investment Hovhannes Azizyan said today.
YEREVAN, January 19. /ARKA/. A free economic zone that Armenia is planning to launch later this year near the southern town of Agarak not far from the border with Iran, will create 2,500 new jobs and increase Armenian exports by 30%, Deputy Minister of Economic Development and Investment Hovhannes Azizyan said today.
Speaking to reporters he said the main purpose of the free economic zone is to help boost trade and economic relations with Iran and other countries of the region, help the development of the Syunik region, as well as position Armenia as a link between Iran and members of the Eurasian Economic Union (EEU) and Georgia.
Azizyan said the initial investment into the free economic zone is about $28 million. He said the ministry has placed on its official website an invitation for investors to participate in the establishment of the free economic zone. In his words, Iranian, Russian, Chinese and Armenian companies have already shown interest in this project. He said if necessary, the government of Armenia will contribute to attracting investment by providing advisory support to companies.
"Preference will be given to companies, which will offer interesting programs and favorable conditions for the residents,' said Azizyan.
He said in 2016 the trade turnover between Armenia and Iran amounted to about $280 million, of which $70 million were Armenian exports.
‘Negotiations are currently underway for certification of Armenian products in Iran, as well as on procedures related to the implementation of bank transfers,’ he said.
Azizyan said also the Armenian free economic zone has one advantage –it is the proximity to Aras free economic zone built by Iran on its side of the border.
Aram Vardanyan, the head of a ministry department in charge of economic development and investment, said the Agarak free economic zone will house about 120 companies, which are supposed to earn $52 million in ten years. Their products will be exported to Iran, EEU member states, the Middle East, Turkmenistan and others.
"The benefits of the free economic zone are the developed infrastructure, assistance in obtaining documents, a special mode of activity, proximity to Iran and the North-South highway, free trade agreement between Iran and the EEU and the possibility of using the potential of the vast Armenian Diaspora", - said Vardanyan. -0-
Speaking to reporters he said the main purpose of the free economic zone is to help boost trade and economic relations with Iran and other countries of the region, help the development of the Syunik region, as well as position Armenia as a link between Iran and members of the Eurasian Economic Union (EEU) and Georgia.
Azizyan said the initial investment into the free economic zone is about $28 million. He said the ministry has placed on its official website an invitation for investors to participate in the establishment of the free economic zone. In his words, Iranian, Russian, Chinese and Armenian companies have already shown interest in this project. He said if necessary, the government of Armenia will contribute to attracting investment by providing advisory support to companies.
"Preference will be given to companies, which will offer interesting programs and favorable conditions for the residents,' said Azizyan.
He said in 2016 the trade turnover between Armenia and Iran amounted to about $280 million, of which $70 million were Armenian exports.
‘Negotiations are currently underway for certification of Armenian products in Iran, as well as on procedures related to the implementation of bank transfers,’ he said.
Azizyan said also the Armenian free economic zone has one advantage –it is the proximity to Aras free economic zone built by Iran on its side of the border.
Aram Vardanyan, the head of a ministry department in charge of economic development and investment, said the Agarak free economic zone will house about 120 companies, which are supposed to earn $52 million in ten years. Their products will be exported to Iran, EEU member states, the Middle East, Turkmenistan and others.
"The benefits of the free economic zone are the developed infrastructure, assistance in obtaining documents, a special mode of activity, proximity to Iran and the North-South highway, free trade agreement between Iran and the EEU and the possibility of using the potential of the vast Armenian Diaspora", - said Vardanyan. -0-
