Minister of Roads and Urban Development of Iran Mohammed Eslami stated after his meetings in Armenia that an agreement had been reached with the Armenian side to eliminate the existing problems in the field of transit and increase the level of trade, Irna reports.
For that purpose, according to the Minister, it was decided to eliminate the transhipment by creating reciprocal conditions and elimination of duties, to create attractiveness for the use of transit routes for the trade turnover of the two countries, as well as for transit through Armenia. Eslami said that a memorandum of understanding was signed to eliminate problems in the field of transit and increase trade.
According to the Minister, an agreement was reached to expand investment opportunities in the Meghri Free Economic Zone (FEZ). According to him, the necessary conditions have been created for Iranian investors and large companies to visit Armenia and have discussions. The official also said that discussions were held and decisions were made in the field of infrastructure, particularly in the field of roads and railways.
Eslami expressed hope that the trade turnover between the two countries will increase to $1 billion. “By expanding cooperation and increasing the volume of investments to $1 billion, Iran can quickly become a major trading partner of Armenia,” Eslami said.
