The direction: Meghri. the prime minister instructed to complete the formation of the FTA as soon as possible

Prime Minister Karen Karapetyan started the session of the RA government on December 21 with already traditional instructions, the first of which was related to the formation of the Meghri Free Economic Zone (FEZ).

The Prime Minister reminded that on December 15, the first stage of the Meghri Free Economic Zone was completed and the operation of the Free Economic Zone was started. At the same time, according to him, it is necessary to take coordinated measures to complete the second phase of relevant works as soon as possible.

Accordingly, he instructed. “To the Ministers of Territorial Management and Development, Energy Infrastructures and Natural Resources, the Presidents of the State Revenue Committee, the State Committee of Real Estate Cadastre and the State Committee of Water Management, to take joint measures with the Minister of Economic Development and Investments within two months to ensure the technical conditions of the necessary infrastructures for the second stage of the formation of the Meghri FTA,” said the Prime Minister.

It should be noted that according to official information, in the second phase it is planned to expand the activities, infrastructures and territory of the FTA by an additional 70 hectares, creating preconditions for developing a profitable business. About 50 hectares of the above-mentioned areas will be allocated for operators’ activities, 10 hectares for logistics-storage areas, and the remaining areas for office and other services.

Karepatyan also instructed the Ministers of Foreign Affairs and Finance to continue the work through RA diplomatic representations in order to ensure the widest possible awareness of the advantages, commercial and logistic opportunities of Meghri Free Trade Area, as well as favorable economic regimes.

On the other hand, he also instructed the Minister of Economic Development and Investments to regularly submit reports to the government staff regarding the works being performed.

As a result of the activity of the free economic zone, it is planned to attract 50-70 operating companies in the coming years, which will make investments of about 100-130 million dollars, create about 1500 new jobs and export goods and services worth 250 million dollars.

The free economic zone created in the area bordering Iran, taking into account the geographical position, trade and logistics opportunities, multi-vector trade preferential regimes of Armenia, can become a bridge between Iran, EAEU and EU countries. In addition, the Meghri Free Economic Zone will contribute not only to the solution of socio-economic problems of the region, but also to the inflow of foreign capital to Armenia, the strengthening of economic ties with the Republic of Iran, the EAEU membership, the existing relations with the EU, and the more effective use of the potential.