Bilateral Trade and Transit Freight Transport to Gain New Momentum with Signed Memorandum

On May 24, Vahan Kerobyan, the Acting Minister of Economy of Armenia, welcomed a delegation led by Mohammad Eslami, the Minister of Roads and Urban Development of the Islamic Republic of Iran, who arrived on a working visit to Armenia. The meeting was also attended by Abbas Badakhshan Zohouri, the Ambassador of the Islamic Republic of Iran to Armenia. This information was reported by the press service of the Ministry of Economy of the Republic of Armenia.

Vahan Kerobyan stated that strong partnership relations have developed between Armenia and Iran in the economic sector, and the Armenian side is interested in expanding mutually beneficial cooperation and trade relations with Iran, as well as taking practical steps to implement the agreements reached.

Mohammad Eslami reaffirmed the Iranian side's willingness to implement initiatives aimed at deepening economic ties and expressed confidence that the existing cooperation potential between the two countries can be realized by involving joint projects of Armenian and Iranian companies.

During the meeting, a wide range of issues of mutual interest were discussed, including attracting investments, constructing an industrial park with Iranian participation, improving logistical infrastructures, simplifying and regulating procedures in the freight transportation process, and the possibility of revising the tariffs for Iranian transit freight transported through Armenia.

The establishment of new direct flights between Armenia and Iran was also addressed, which could serve as an additional boost for activating the tourism sector.

Summarizing the outcomes of the meeting, Vahan Kerobyan expressed satisfaction with the willingness on both sides to achieve practical results and hoped that the agreements reached during the meeting would contribute to bilateral trade and transit freight transport gaining new momentum. To this end, a memorandum of understanding was signed between the Ministry of Economy of the Republic of Armenia and the Ministry of Roads and Urban Development of the Islamic Republic of Iran, which specifically envisages the formation of a joint working group led by the Deputy Minister of Economy of Armenia and the Deputy Minister of Roads and Urban Development of Iran. The working group will examine the procedures hindering trade-economic relations and will present proposals for their elimination.