YEREVAN, NOVEMBER 28, ARMENPRESS. Armenia has created favorable conditions which enable to make beneficial investments and do business successfully, foreign minister Edward Nalbandian said at the opening ceremony of Armenian-Iranian business forum in Yerevan, reports Armenpress.

“Such forums are an important platform for the representatives of public and business circles of the two countries to discuss the existing opportunities and problems in the bilateral trade-economic field, to determinate the future steps aimed at boosting the cooperation between our countries. I hope this forum will contribute to further use of Armenia’s investment opportunities by Iranian businessmen. The reforms in Armenia plan to establish more favorable regimes, clarify the guarantees given to foreign investors, enable the businessmen to use the current and expected additional privileges in Armenia, the contemporary mechanisms of solving the investment disputes, consistently cut and simplify a number of procedures”, the Armenian FM said.

According to him, among the advantages of making investments in Armenia is that the country has a privileged trade regime with numerous countries. The FM stated that new opportunities have been created by Armenia’s membership to the Eurasian Economic Union (EAEU).

“The goods produced in Armenia with zero customs fees and without administrative barriers can freely enter the 180 million consumer market of the member states of the Eurasian Economic Union. Moreover, our country has a free trade agreements with almost all countries”, the FM said.

He noted that Armenia, the only country among the EAEU states with a land border with Iran, can act as a gateway for entering the CIS, EAEU states, as well as the EU. “In this sense we attach importance to the North-South road corridor which is at construction stage as the shortest transit route connecting the ports of the Persian Gulf with the Black Sea ports. Armenia is also actively supporting the agreement on free trade zone between the EAEU and Iran”, the FM said, adding that the FEZ to be created in Syunik will contribute to strengthening the economic ties with Iran and more effective utilization of Armenia’s economic potential.

“The respective agencies of the two countries have signed a memorandum of understanding which aims at outlining the main cooperation directions in the field of free economic zones between Armenia and Iran”, FM Nalbandian said.