Armenia intends to launch production of certified halal meat in Iranian "Aras" FEZ

ArmInfo. Armenia intends to launch production of certified halal meat in Iran's "Aras" Free Economic Zone, Chairman of Trade and Industry Chamber of Armenia Martin Sargsyan stated on January 27 on the sidelines of Armenian-Iranian business meeting. The expert explained that cattle slaughtering will be done in Armenia, after which the processing plant established on the territory of the Iranian FEZ will produce meat products and sausage goods. Besides meat products the Armenian side intends to export confectionary and agricultural raw materials to Iran. Martin Sargsyan recalled that trade turnover between Armenia and Iran totaled nearly $263 mln in 2015. Cooperation within setting free economic zone according to him will allow Armenia to become a bridge between Iranian and Russian business and will ensure entry of Iranian entrepreneurs on the Eurasian market. Moreover, the countries of the Eurasian Economic Union will get an opportunity to enter Iranian market via Meghri FEZ.  As for the terms of its establishment Martin Sargsyan thinks that FEZ in Meghri on the border with Iran will be implemented in quite short terms. "I think the process will be implemented in accelerated mode as both sides are interested in it", he stated. During today's discussion attended by 11 heads of Iranian FEZ it is planned to ensure safe entrance of Armenian products on the Iranian market, Sargsyan informed. The issues of ensuring safety when making deals between entrepreneurs are important part of current negotiations with the Iranian side. Insurance companies and role of the arbitration court established under Trade Industry Chamber of Armenia play a significant role in preparing contracts and solving issues related to possible discrepancies between the sides. The issues of tourism will also be considered, as bilateral potential in this area is very huge.

To note, the cost f the program of establishing FEZ between Armenia and Iran is estimated at $28 mln, considering the operating expenses the total amount will make $32 mln. It is expected that in 10 years the income of the organizer company will total $52 mln, while the number of the employees of the organizer company of the free economic zone will total 60-70 people. According to forecasts 120 companies will be attracted in 10 years, which will export products amounting to $80-$100 mln annually.