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17:00, 15 July 2011

Armenia creates a FEZ

In Armenia near the international airport "Zvartnots" a free economic zone has been established. On July 14 in Yerevan the agreement to that end was signed.

The document on establishing free economic zones (FEZs) was signed by Tigran Davtyan, Minister of Economy of Armenia, and Marcelo Wende, the representative of "Corporation America SA" company, Managing Director of JSC "Armenia – International Airports".

The free economic zone in the Yerevan airport is designed for wholesale and retail sale of agricultural products. "Refrigeration supply for storage, packaging and export of agricultural products has already been run at the airport," Minister of Economy told.

Minister assured that free economic zones would operate outside the customs sphere of Armenia.

"For several years "Corporation America SA" company specializes in management of free economic zones in different countries of the world," said Marcelo Wende, Managing Director of JSC "Armenia – International Airports". He also stressed that the company was interested in this project.

Author: Inessa Sargsyan

Source: CK correspondent

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