Jan 26, 2018, 8:29 PM
News Code: 82808936
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Iran official stresses taking advantage of Armenia's Meghri  FEZ

Moscow, Jan 26, IRNA – The Iranian ambassador to Armenia urged Iranian traders and entrepreneurs to take advantage of preferential terms in Armenia's Meghri Free Economic Zone.

Iranian traders can seize the opportunity to meet the Eurasian countries' needs and also use the region as a hub to export their products to Europe, Kazem Sajjadi said in a meeting with a number of Iranian intrepreneurs.

On Wednesday, Armenian Prime Minister Karen Karapetyan called on Eurasian Economic Union member states to take advantage of preferential terms in Meghri Free Economic Zone and export goods to Iran.

Karapetyan also called on Iran to export its products to EEU via the FEZ, the Tehran-based Financial Tribune newspaper reported.

The free economic zone located in the southern Armenian town of Meghri on the border with Iran was inaugurated by Karapetyan on Dec. 15 last year, with facilities for a wide range of fields, including agriculture, manufacturing, trade, cargo shipment, storage and tourism.

Companies operating in Meghri FEZ will be exempted from profit tax, value-added tax, excise tax and customs fees, while it would have to only pay income tax.

Armenia’s exports to Iran include meat, paper, steel, mechanical and medical equipment, coffee and mineral water while Iranian exports to Armenia include natural gas, bitumen, oil, petroleum products, household products, fertilizers, glass, fruits and vegetables.

Since Armenia’s borders with both Turkey and Azerbaijan have long been closed due to the Nagorno-Karabakh conflict, Iran is one of the only two conduits for landlocked Armenia to the outside world.

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