Your trusted source

“Favorable conditions are set up in Armenia, which allow to make profitable investments and successfully conduct business,” Armenia’s FM Edward Nalbandian stated today during remarks at the Armenian-Iranian Business Forum held in Yerevan.

The minister informed that reforms in Armenia are aimed at establishing national and more favorable regimes, clarifying guarantees for foreign investors, providing the opportunities for businessmen to use the existing in Armenia and envisaged supplementary benefits and modern mechanisms for resolving investment related disputes.

Nalbandian next pointed to number of advantages of investing in Armenia, the country’s privileged trade regimes with many countries among them.  “Armenia's accession to the Eurasian Economic Union has created new opportunities. The products produced in Armenia can freely enter the 180 million-strong consumer market of the Eurasian Economic Union member states with zero customs duties and without administrative barriers. Besides, our country has free trade agreements with almost all CIS countries. Armenia also benefits from the "Generalized Systems of Preferences GSP" of the US, Canada, Switzerland, Japan, Norway, as well as the "GSP + Generalized Scheme of Preferences" provided by the European Union,” said the minister, adding, being the only EAEU member state Armenia has a land border with friendly Iran, that can be a gateway to accessing EU and CIS countries.

Nalbandian once again voiced Armenia’s supports to the negotiation process between the Eurasian Economic Commission and Iran aimed at signing a free trade zone agreement.

Concluding his speech, Nalbandian referred to the free economic zone in Syunik - at the border with Iran, that will promote the strengthening of economic ties with the Islamic Republic of Iran and the most efficient use of Armenia's economic potential.  Among benefits of such potential cooperation, per minister, might be establishing contacts between companies operating in the free economic zone "Meghri" and in the free economic zone "Aras".