ArmInfo. Events aimed at stimulating export, attracting investments, improvement of business environment and further development of tourism were implemented during 2016, Minister of Economic Development and Investments of Armenia Suren Karayan stated at the Armenian government during the regular meeting on the results of the government's work in 2016. Particularly, according to Karayan activities have been conducted aimed at ensuring due level of Armenian products representation in the catalogues of supranational corporations ensuring the most favorable conditions for entering EEU markets and other regional markets and growth of export.
Work has been done aimed at establishing free economic zone on the border with Iran, it is planned to launch activities of FEZ establishment till April, the Minister said. Big guarantee payments set for entrance of cars to Iran have been replaced with insurance, the price was reduced 3-fold. Steps have been made aimed at stimulating business ties and increasing awareness of Armenian products abroad, 21 business and investment forums have been organized, 80 agreements have been signed with foreign business partners. Visit of Russian METRO AG company delegation was organized to Armenia. Negotiations have been held on export of Armenian products. Particularly, Armenian companies have reached agreements with Russian "Lenta" and "x5" retail networks on export of cheese.
To note, the cost of 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. Recently representative of Iranian "Iran Khodro" car producing company in Armenia, Director of "Rena" LLC Reza Nafezi stated on the sidelines of Armenian-Iranian business meeting that the company is ready to invest nearly $1 mln in construction of free economic zone in Meghri on the border with Iran. Chairman of the Board of Directors of Iranian FEZ "Aras" on the border with Armenia Mohsen Hadem Arab Bahi told journalists that on the current stage negotiations are being held with the Armenian side to create FEZ.