Iran, Armenia plan to establish free trade zone to boost economic ties

Iran and its northern neighbor Armenia plan to establish a free trade zone in the border region to enhance mutual economic and trade ties, Tasnim news agency reported Tuesday.

The plan was announced by visiting Armenian Prime Minister Karen Karapetyan in a meeting with Iranian Parliament Speaker Ali Larijani in the capital Tehran on Monday.

“Yerevan has invited Eurasian and European parties to get involved in the free trade zone trade and economic activities,” Karapetyan was quoted as saying.

“The free trade zone would be of significance for foreign businesses given its proximity to Iran,” he said, adding that Iranian merchants could lead to an economic boom in the zone by taking an active role.

He expressed Armenia’s willingness to form a new type of relations with Iran with a new outlook.

Ali Larijani stressed the need to continue strengthening economic cooperation and expand ties between the parliaments of the two countries.

“Iran and Armenia enjoy deeply-rooted ties of friendship, and our goal is to build on the ongoing political and economic cooperation. In the face of today’s critical situations, there is a need for more consultation with each other, and I would like to express my satisfaction with the current level of parliamentary cooperation. I am hopeful that your visit will give new impetus to bilateral relations,” Mr. Larijani said.

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