Agricultural machinery producer - CLAAS company is interested in the FEZ Meghri created on the Armenian-Iranian border

ArmInfo. Minister of Economic  Development and Investments of Armenia Suren Karayan with  representatives of CLAAS, the world's leading producer of  agricultural machinery, the chief manager in Central Asia and the  Caucasus of the company CLAAS Global Sales Thomas Shtigler and the  commercial director of the company in Krasnodar, Michael Ritter,  discussed the prospects of activity in RA. According to the  press service of the Ministry of Economic Development,  representatives of the German company expressed interest in the FEZ  created on the Armenian-Iranian border.

Suren Karayan presented the company's representatives with the  privileges and opportunities of economic entities that operate within  the FEZ borders in Meghri. He also stated about the prospects that  are being opened within the framework of cooperation between the FEZ  in Meghri and "Aras" in Iran.

On August 3 the Government of Armenia approved the draft decision on  the establishment of Meghri Free Economic Zone, which was launched  earlier in October 2017. At the first stage, it is planned to equip  the territory adjacent to the Meghri checkpoint, and also to form  physical infrastructures. This will be followed by the provision of  appropriate privileges and the involvement of companies in the FEZ.  The total cost of building FEZ in Meghri is estimated at $ 32  million, of which $ 28 million is capital expenditure. The  construction of the FEZ on the border with Iran is one of the  priority investment programs of the Armenian government and provides  for the creation of a free economic zone with an area of 10-15  hectares, with the possibility of further expansion to 45-50  hectares. Despite the fact that the FEZ has not yet been built, there  are already numerous applications from various companies that have  expressed a desire to start work in the FEZ - more than 10 companies  from Russia, there are also from Iran and Europe. According to the  Ministry of Economy, operation of the FEZ will create 2,500 jobs and  increase exports from Armenia by 30%. The main goal of the FEZ is the  development of trade and economic relations with Iran and other  countries of the region, the development of the Syunik region, as  well as the positioning of Armenia as a link linking Iran with the  EEU countries and Georgia. It is assumed that 100-120 companies will  operate there, whose revenues will reach $ 52 million over 10 years.  The products are planned to be exported to Iran, the countries of the  EEU, the Middle East, Turkmenistan and others. The total investment  of all companies for 10 years is planned to increase to $ 350-400  million. The functioning of the FEZ has already been legislated in  the Customs Code of the EEU. In total, seven such zones will operate  in the system of the duty-free system.