Armenia actively supports the possible creation of a free trade zone between the Eurasian Economic Union (EEU) and Iran, Sputnik cited Armenian Foreign Minister Eduard Nalbandian as saying on Monday, February 20.

"At present, there are propects of establishing a free trade zone between Iran and the Eurasian Economic Union which we of course support sincerely," Nalbandian said.

Nalbandian cited great perspectives for attracting Iranian businesses into the Armenian market and stressed that Yerevan and Tehran continue improving investment opportunities for bilateral cooperation.

"An important step in this process was the visa waiver program between our countries, which will also strengthen bilateral trade and economic relations," Nalbandian said.

On Tuesday, Russian First Deputy Prime Minister Igor Shuvalov will visit Iran to discuss the free trade zone.

Launched in 2015, the EEU is a Russia-led regional political and economic bloc which aims to streamline the flow of goods and services among its member states: Armenia, Russia, Belarus Kazakhstan and Kyrgyzstan.