Armenia has created a free trade area right on the border with Iran with consent of the Eurasian Union members, President Serzh Sargsyan said in an interview with RIA Novosti.

Given that another free trade area is functioning on the Iranian side, this opens up great opportunities, Sargsyan added.

“We are negotiating with the Iranian side within the framework of the EEA to sign a free trade agreement. I think that the negotiations will reach an effective conclusion, and we will sign an agreement, "the president said.