Armenia expects Iran to ratify agreement on forming free trade zone this summer: minister

Armenia expects Iran to ratify agreement on forming free trade zone this summer, minister of economic development and investments Tigran Khachatryan said at the parliament today.

“The agreement on forming free trade zone with Iran has been ratified by all the five member states of the Eurasian Economic Union. We expect Iran to ratify it during this summer,” the minister said.

He said clarification has been made to one of the disputable points. As a result the customs fees have been reduced in many cases.

“This agreement is intended for transitional period. The next deeper phase of cooperation will be the free trade phase when all the customs fees are bilaterally zeroed,” the minister said.