The motorway being built in Syunik will reduce the 1 hour 20 minute journey to just 20 minutes, and the width of this road will increase from 6 meters to 17 meters, which is beneficial for both countries, Iranian Ambassador Mehdi Sobhani said in Syunik Province of Armenia Thursday.

According to him, this new motorway reduce the risk of accidents and increase the amount of cargo transportation.

“Both our countries will benefit from this. If Armenia benefits, naturally, Iran will also get benefit from it. The development, prosperity of Armenia is exactly what Iran wants,” Sobhani said.

When asked what prevents the Meghri Free Economic Zone at Armenia’s border with Iran from being able to fully operate, the Iranian diplomat replied: “Naturally, the economic infrastructure must be ready. We have a free economic zone on the Iranian side, which is operating. If the free economic zone is launched on this side, in Yerevan as well, it will be a stimulus for economic development. We are in negotiations with the Ministry of Economy of Armenia to be able to advance these programs.”

Speaking about Iranian companies’ activities in Armenia, the Iranian ambassador noted that about 300 such companies have already been registered and are operating in Armenia.

“These companies operate in various sectors. Currently we have an Iranian steel company in the city of Armavir, which has established a pant there. Soon a rebar production line will be launched there. We have companies in other sectors also that operate in Armenia and contribute to the development of the economy and trade. We have a trade center in Yerevan, where there are 109 pavilions. We have agreements in other sectors also, we have signed contracts, the results of which you will hear about,” added Mehdi Sobhani.