Karen Karapetyan and Arkady Dvorkovich discussed the issues of active involvement of Russian business and capital in FEZ Meghri

ArmInfo. Prime Minister Karen  Karapetyan, who is in Davos, on January 25 held a meeting with  Russian Deputy Prime Minister Arkady Dvorkovich.

"Russian Deputy Prime Minister Arkady Dvorkovich discussed the issues  of active involvement of Russian business and capital in the free  economic zone on the Armenian-Iranian border, as well as related to  the activities of the EAEC," Karen Karapetyan wrote on his Facebook  page.The sides also touched upon the prospects of cooperation in the  field of agriculture, in particular in the livestock sector.

Let us recall that on December 15, the free economic zone of Meghri  was opened with the participation of the Prime Minister of Armenia  Karen Karapetyan and the Iranian Ambassador to Armenia Seyed Kazem  Sajjad. Minister of Economic Development and Investments Suren  Karayan said at the opening ceremony that in the coming years it is  planned to attract 50-70 companies that will invest in the amount of  $ 100-130 million. As a result, 1500 jobs will be created, and the  level of exports of goods and services will reach $ 250 million. 

Companies operating in the free economic zone of Meghri  will be  exempt from profit tax, value added tax and excise tax and customs  duties. They will only pay income tax. In the free economic zone will  be represented by agricultural, processing, trade, transport, travel  companies. 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 ha. 

 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 EEA, 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 set out in  the Customs Code  of the EAEC.  In total, seven such zones will operate in the system  of the duty-free system.