Iran, Armenia free trade zones ink cooperation MoU

IRNA – Iranian and Armenian high councils of free trade and special economic zones signed a memorandum of understanding (MoU) on Thursday to help promote cooperation between Aras and Mogri free trade zones.

The agreement was signed by the Iranian President’s Advisor and Secretary of Free Zones Coordination Council Akbar Torkan and the Armenian Minister of Economic Development and Investments Suren Karayan.

During the signing ceremony, relevant economic directors of both countries presented reports on talks held in the joint workshops in the field of collaboration between trade, industrial and tourism free zones.

Armenian minister described Torkan’s visit to the country as opening a new chapter in bilateral relations in different fields, particularly in the fields of economy and trade as well as cooperation between free trade and special economy zones.

The two sides also agreed to activate potentials of cooperation between the two countries’ trade zones.

Referring to the two countries’ officials’ determination on boosting economic and commercial ties, Torkan underlined the need for taking practical steps to give an impetus to mutual cooperation, especially between Aras and Mogri free trade zones.

Constructing joint factories in the zones and transforming mineral resources into exported items are among major objectives of the free trade zones, he said, noting that the two countries can not only generate further jobs but also pave the ways for exporting joint products to Eurasia and Europe.

Highlighting the special geographical location of Armenia and access to Black Sea and Europe, the Iranian official said that Armenia can serve as a bridge between Iran and Europe, paving the way for transit and export of Iranian goods to Europe.

Karayan, for his part, recalled his good cooperation with Iran’s Ambassador in Yerevan Kazem Sajjadi to enhance economic relations, saying that he agreed with the Iranian side’s proposals in the fields of tourism, trade and Halal brands.

The Armenian government has already implemented the country’s economic development plan for 2025 and enthusiastically favors Iran’s state and private sectors to help operate all the projects.

“Armenian government attaches special significance to trade and economic ties with Iran and we can give an impetus to bilateral relations by producing goods in both sides’ free trade zones and exporting them to Europe,” he said.

Torkan also exchanged views on mutual cooperation with the Armenian Minister of Energy Infrastructures and Natural Resources Ashot Manukyan on Thursday.

Manukyan said that commissioning the third line for transferring electricity between the two countries will enhance economic ties by three times.

Torkan arrived in Yerevan on Tuesday to examine expansion of cooperation with Armenian officials in free trade zones.