A free trade agreement was not signed during a Premier-headed Armenian delegation visit to Iran. The initiative belongs to the Iranian side, and creating free trade zones is part of the Armenian Government’s strategy, RA Minister of Economy Nerses Yeritsyan stated in Parliament. He explained that Iran has not yet resolved the legal problems of setting zero customs duties for the transit of Armenian goods.

The Minister hopes that a free trade agreement will be signed with Iran next year. Yeritsyan said that the sides agreed on new approaches and reach results under international conventions.

Minister Yeritsyan also reported that the sides also raised the issue of an Armenia-Iran oil pipeline. The Armenian Government interested in construction. “The Iranian side showed full understanding,” the Minister said.

The sides also discussed the issue of most favored nation basis between the countries. The sides arranged about a visit of the chief of Iran’s Customs Service to Armenia to discus the issue.