Meghri Free Economic Zone is located on the Armenian-Iranian border. It aims at ensuring favourable business environment for development of export-oriented industries. Also fostering regional economic cooperation between the two countries and creating value-added jobs.
The plan is to develop The Meghri Free Economic Zone in two stages. During the first stage, basic infrastructure and other preconditions necessary for the launch of the zone. This has been provided in cooperation with the companies involved in the development of the FEZ. The second phase envisages the expansion of FEZ operations with additional infrastructure over 70 hectares of land in order to provide a business-friendly environment.
The zone aims to create1,500 jobs from over 50 operations. However progress has been slow at present. The aim to have a wide range of different industrial sectors such as agriculture and logistics.
A trade agreement was signed between Iran and Armenia in 2021 that should help spur interest and facilitate the development of the zone.
- Land tenure: 50 years
- Year opened: Launched 2017