YEREVAN. – A free economic zone in Meghri is a promising direction, said Russian trade representative to Armenia Andrei Babko on Tuesday during the joint press conference with Russian ambassador.

According to him, Russian residents are expected to participate in the initiative, but everything depends on the Armenian-Iranian deals.

“Russian investors are ready to participate in the work of the Meghri free economic zone, but businessmen should be aware of the products that could be sold there” he said.

Babko noted that the Russian capabilities depend on the correctly formulated tasks of the Armenian Government.

“We are looking forward to working with the new Armenian Government. Investors are in a waiting mode,” he added.

Touching upon the main directions of the Armenian-Russian economic cooperation, the Russian official rcalled that the blockade of Armenia affects cooperation.

According to him, the construction of the Iran-Armenia railway would also help in solving transportation problems as well as would allow the republic become a transit hub.

“Moreover, Armenia declares itself to be the only Eurasian Economic Union state that has a land border with Iran. However, the problem is about investments,” Babko added.