ITAR-TASS, Russia Tuesday 2:19 PM GMT Russia ready to facilitate development of free economic zone between Armenia, Iran - PM EREVAN October 24 HIGHLIGHT: Russia is ready to participate in development of a free economic zone between Armenia and Iran, Prime Minister Dmitry Medvedev said on Tuesday. /Update/ EREVAN, October 24. /TASS/. Russia is ready to participate in development of a free economic zone between Armenia and Iran, Prime Minister Dmitry Medvedev said on Tuesday. "We have good relations with Iran, regardless of whether somebody likes it or not, therefore if our friends plan to create such a free economic zone, we are ready to take part in its development, including by inviting our Russian business there," Medvedev said. Armenia offered various format of co-investing during talks, the Russian prime minister said. "We will think of ways to implement that, probably with use of Russian development institutions, such as the Russian Direct Investment Fund and VEB," Medvedev added.