Prime Minister Hovik Abrahamyan at a session of the Eurasian Intergovernmental Council has reached an agreement on the establishment of a free trade area with Iran, Economy Minister Artsvik Minasyan said Thursday, August 25, according to Tert.am.

“The creation of a free trade area with Iran will enable establishing better relations between Iran and the Eurasian Economic Union,” Minasyan said.

The main problem facing Armenia, according to the Minister, is ensuring legal guarantees.

Weighing in on the deal, Minasyan said that both Armenia and Iran should be engaged, with Armenia, according to him, already making efforts.

Asked whether Armenia can have a free trade area with Iran independent from Russia, Minasyan said Armenia has had such a status from the very beginning, and that no new document will be signed between Iran and the Eurasian Economic Union in this regard.