YEREVAN, AUGUST 18, ARMENPRESS. Armenia’s minister of economic development and investments Suren Karayan and Iranian President's advisor and secretary of Free Zones Coordination Council Akbar Torkan on August 17 signed a memorandum of cooperation, the ministry told Armenpress.

The memorandum aims at defining the main directions of cooperation in the field of free economic zones between Armenia and Iran, in particular, to promote the Meghri free economic zone and Aras economic special zone and close cooperation aimed at developing them. In addition, according to the memorandum, ties will be established between companies operating in the territories of Meghri free economic zone and Aras special economic zone, as well as between the bodies governing the zones and the state agencies.

During the meeting the two officials reaffirmed that as a result of the cooperation a free economic zone common system will be established which will become the epicenter of regional development.

Three working groups have been formed by the initiative of Suren Karayan and Akbar Torkan aimed at discussing the cooperation opportunities of the two countries in tourism, free economic zones and industry fields and making practical proposals. “I was reported that our working groups had quite productive discussions. I am confident that the agreements reached as a result of the discussions and the cooperation we launch today will deepen the Armenian-Iranian mutual economic partnership”, minister Karayan said.

The Iranian official thanked minister Karayan for the warm reception stating: “The Aras free trade zone is Iran’s gateway to cooperation with Caucasus and the EAEU countries. Armenia is a member of the EAAU and has quite good relations with the EAEU member states, and we hope we can use this factor for entering the Eurasian market”.

At the end of the meeting Suren Karayan said: “I once again want to thank for accepting the invitation and visiting Armenia. We have recorded quite progress in our economic ties. Today we launch new programs. We were convinced that there is a great development potential in industry, tourism fields. We also are confident that the cooperation of our free economic zones will result in sharp growth of economic relations of our countries”.