ARMENIA, IRAN TO SIGN FREE TRADE AGREEMENT

ARKA News Agency, Armenia
June 14 2007

YEREVAN, June 14. /ARKA/. Armenia and Iran are expected to sign an
agreement on free trade regime. The issue was discussed at a meeting
between RA Prime Minister Serge Sargsyan and Iranian Ambassador to
Armenia Alireza Khakikian.

The Public Relations Department, RA Government, reports that Premier
Sargsyan expressed hope that the meeting of the Intergovernmental
Commission scheduled for July will contribute to the development and
consolidation of economic relations.

Premier Sargsayan expressed satisfaction over successful implementation
of the programs under high-level agreements.

In his turn, the Iranian Ambassador pointed out the importance of
the planned meeting. He said that the Iranian side is making serious
preparation for the meeting.

Besides the free trade agreement, Ambassador Khakikian emphasized
cooperation in the petrochemical industry, as well as the construction
of a hydro-power plant on the Araks River. He stressed that the
energy to be generated by the hydro-power plant will contribute to
the development of a number of borderline regions, and the energy
surplus will be used in exchange with Iran.

The Ambassador also reported that a join commission is expected to
be formed to encourage investments.

During the meeting Ambassador Khakikian conveyed to Premier Sargsyan
congratulations on his appointment from the Iranian Vice-President,
as well as success to the Armenian Government and the entire Armenian
people.