Meghri free economic zone to promote SME development – economist

In an interview with Tert.am, economist Gagik Vardanyan welcomes the Armenian government’s idea to create a free trade zone in Meghri.

It will make Armenia more attractive in terms of investment and promote the region’s progress.

“Any such zone, which enables implementation of new ideas, creation of free conditions for free trade will, of course, be welcomed.  It is not in our state interests – tax and budget revenues. It promotes the development of small and media enterprises. People can feel free, receive profits and improve their well-being,” Mr Vardanyan said.

The free economic zone envisages organization of services that would provide Armenia with access to the Iranian and the Eurasian Economic Union (EEU) markets.

At one time, when Armenia was at war and blockaded, it could not take advantage of the situation.

“The United Arab Emirates and Turkey - all the neighboring countries that could engage in indirect trade - took advantage of economic sanctions against Iran. We could see their progress, but we failed to take advantage,” Mr Vardanyan said.

Now that sanctions have been lifted, Armenia has ample opportunities.

“But we need efficient diplomacy and economic agencies’ work. As Iran’s old friend, we have favorable conditions. On the other hand, Iran is not open for all countries, despite lifted sanctions,” Mr Vardanyan said.

Armenia can resolve many of its economic problems due to economic cooperation with Iran.