Armenia as a gateway for Iran to EU and CIS

Armenia, being the only EAEU member state that has a land border with friendly Iran, can be a gateway to accessing EU, EAEU and CIS countries, Armenian Foreign Minister Edward Nalbandian said at an Armenian-Iranian Business Forum in Yerevan.

In this regard he pointed to the significance of the North-South Road Corridor, which, he said, is the shortest transit route connecting Persian Gulf ports to the Black Sea ports.

According to Minister Nalbandian, “Armenia actively supports the negotiation process between the Eurasian Economic Commission and friendly Iran aimed at signing a free trade zone agreement.”

“On March 30, 2017, the Government of Armenia passed a decision on establishing a free economic zone in Syunik – at the border with Iran, the launch of which would promote the strengthening of economic ties with the Islamic Republic of Iran and ensure the most efficient use of Armenia’s economic potential. A Memorandum of Understanding was signed by the relevant authorities of the two countries aimed at defining the main directions of cooperation between Armenia and Iran in the sphere of free economic zones, establishing contacts between companies operating in the free economic zone “Meghri” and in the free economic zone “Aras”, as well as governing bodies,” the Armenian Foreign Minister added.

Edward Nalbandian said Armenia has set up favorable conditions that allow making profitable investments and successfully conduct business. “Reforms in Armenia are aimed at establishing national and more favorable regimes, clarifying guarantees for foreign investors, providing the opportunities for businessmen to use the existing in Armenia and envisaged supplementary benefits and modern mechanisms for resolving investment related disputes; a number of procedures are consistently being reduced and simplified,” he said.

“One of the advantages of investing in Armenia is that the country has privileged trade regimes with many countries. Particularly, Armenia’s accession to the Eurasian Economic Union has created new opportunities. The products produced in Armenia can freely enter the 180 million-strong consumer market of the Eurasian Economic Union member states with zero customs duties and without administrative barriers,” Minister Nalbandian stated.

Besides, he said, “our country has free trade agreements with almost all CIS countries. Armenia also benefits from the “Generalized Systems of Preferences GSP” of the US, Canada, Switzerland, Japan, Norway, as well as the “GSP + Generalized Scheme of Preferences” provided by the European Union.”

The Armenian-Iranian Business Forum that kicked off in Yerevan today 4brought together about 150 entrepreneurs from both countries.

Armenia’s business opportunities, free economic zones, tax regulations, preferential trade regimes were introduced to the entrepreneurs from the neighboring country.

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