Prime Minister of Armenia and RPA First Vice President Karen Karapetyan believes that the trade turnover between Armenia and Iran can reach USD 1 billion annually.

Prime Minister said this during the meetings in Syunik.

“Our trade turnover with Iran is extremely low. As of now, it makes USD 50-75 million without the energy sector. We have a capacity of phenomenal growth in that direction, and it’s apparent that we can bring the index up to $ 1 billion,” Karen Karapetyan said.

“At present we are in the final stage of negotiations on creation of the free economic zone in Meghri, where we’ll engage the capital with interest towards Iranian market. I think we will announce the launch of the zone in the nearest future,” Prime Minister remarked.

Karen Karapetyan noted that they offered parners from Russia, Georgia, Kazakhstan and Belarus to use the Meghri platform, engage their countries’ capital there and enter the Iranian market.