FNA- Armenia as a part of North-South Transport Corridor is a bridge for the Iranian businessmen to access Eurasian and Europen markets, a senior Iranian official said.

"Armenia is a country with a bright prospect and its economic and trade officials have an ambitious vision for the country's development by 2035," Iranian President's Advisor and Secretary of Free Zones Coordination Council Akbar Torkan said in a meeting with Yerevan-based Iranian businessmen on Friday.

Torkan urged Iranian governmental and private sectors to seize the opportunity to invest in Armenia and do business with the country and use at the same time the country's geographical position to access the Eurasia's 180-million-people market and the markets in Europe as well to export Iranian products and services.

During their three-day visit to Armenia, Torkan and the accompanying delegation from Aras free zone met with Armenian Minister of Economic Development and Investments Suren Karayan, Minister of Energy Infrastructures and Natural Resources Ashot Manukyan, as well as Minister of International Economic Integration and Reforms Vice Prime Minister Vache Gabrielyan.

A memorandum of understanding was also inked between officials from the two countries' free economic zones.

The International North-South Transport Corridor (INSTC) is based on an agreement originally signed between Russia, Iran and India in 2000.

The 7,200-kilometer-long corridor which is a network consisted of ship, rail and road modes of transport, is considered a link between Europe and Central Asia, primarily via Iran, India, Russia.

In a relevant development on Friday, Iranian and Armenian high councils of free trade and special economic zones signed a memorandum of understanding (MoU) to broaden their cooperation.

The MoU was signed to increase cooperation between Iran's Aras and Armenia's Mogri free trade zones.

The agreement was signed by 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.

He pointed to the two countries’ determination to boost economic and commercial ties, and underlined the need for taking practical measures to give an impetus to mutual cooperation, specially between Aras and Mogri free trade zones.

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

“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.

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.

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