The Government of Armenia today approved the decision on establishing “Meghri Free Economic Zone” closed joint-stock company, submitted by the Ministry of Economic Development and Investments of RA.

In 2017, activity on establishment of a Free Economic Zone in Syunik Region adjacent to the Islamic Republic of Iran has launched.

Armenia, being a member of the EAEU, having a preferential trade regime with the EU and a common border with the Islamic Republic of Iran, having an attractive investment and business environment approved by international ratings, can represent a serious interest in organizing export-oriented production in Armenia.

Construction of the free economic zone will be done step-by-step. The first stage presents construction of the Meghri customs area, providing the main production and storage areas, which will make the products produced in the zone to enter more competitive markets (in particular the Iranian market). It will become a platform for strengthening West-East and North-South relations.

The goal of the company is to facilitate the launch of the free economic zone, the maximum coverage and use of the free economic zone, the attraction of the global business sector and foreign investment. With the creation of the company, the state will promote the development of Meghri free economic zone.