Yerevan/Mediamax/. Armenian Minister of Economy Tigran Davtyan and the representative of “Corporación América S.A.” Marcelo Vende signed an agreement on establishment of a free economic zone on the territory of “Zvartnots” airport today.

Tigran Davtyan said that the free economic zone is a new model and new opportunity for economy development, Mediamax reports.

According to him, a free agricultural economic zone, which operates outside customs territory in the tax-free regime, will contribute to the exports and boost a new capital flow into Armenia.

“The zone will be established by the private investors and the managing company, and transformation in some of the infrastructures will be carried out at the expense of state funds”, stated the Minister of Economy.

“Armenia International Airports” CJSC General Manager Marcelo Vende said that their group manages a free economic zone in Argentine as well, and added that due to the free economical zone Armenia will be given an opportunity to connect with the whole world.

Tigran Davtyan also informed that the second economic zone which is due to be established on the basis of “Mars” factory will have an industrial orientation, and the negotiations with Russian “Sintronix” company on this matter are still going on.