Economy, Business And Markets

Armenia’s Economy Minister in Iran

Armenia’s Economy Minister in IranArmenia’s Economy Minister in Iran

Armenia’s Minister of Economic Development and Investment Suren Karayan arrived in Iran on Saturday, the press service of the ministry reported. While in Iran, the minister accompanied by a delegation, is slated to visit the production facilities and get acquainted with the activities of commercial centers at the Iranian Aras Free Economic Zone. The Armenian delegation includes the head of Meghri Free Economic Zone bordering Iran and a number of entrepreneurs, Armenia’s Arka news agency reported. Situated in northwest Iran in East Azarbaijan Province, Aras borders Armenia, Azerbaijan and the semi-autonomous Nakhchivan region. The zone has become the main gateway to mainland Iran from the northern Commonwealth of Independent States. The Armenian government approved a bill on March 30 to establish Meghri Free Trade Zone near the country’s border with Iran. On September 12, the Armenian Parliament ratified an agreement on setting up a simplified customs corridor with Iran after the agreement on the joint use of Meghri-Nurduz Customs Corridor was signed in Yerevan back in 2016 for facilitating mutual trade and customs control between the two countries. Under this agreement, if goods are inspected on one side of the border, there will be no need for a second and careful inspection on the other side.

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