Iran’s Aras Free Economic Zone has proposed establishing a joint free economic zone on the border between Iran and Armenia.

Axar.az reports, citing Iranian media, that Aras CEO Hadi Moghadamzadeh made the proposal during the Armenia Expo 2026 exhibition in Yerevan.

He said he raised the proposal during a meeting with one of the Armenian deputy ministers of economy in Yerevan.

“The free economic zone could be established in Meghri, within Iran’s Aras Free Economic Zone, or in a settlement near the Norduz border crossing of the same name on the Armenian border. Its exact location is not that important; what matters is the outcome,” he said.