Iran and Armenia Agree to Increase Trade Volume to $3 Billion

Iran and Armenia have agreed to increase their trade volume to $3 billion. This was announced during the 18th session of the Armenian-Iranian intergovernmental commission, as reported by Irna.

Deputy Prime Minister Mher Grigoryan emphasized that the intergovernmental commission serves as an excellent platform to achieve the goals set by the leaders of both countries, aiming for trade volume to reach $1 billion initially, and then $3 billion.

He noted that Iran is not only a neighboring country for Armenia but also an important partner. In this context, the Deputy Prime Minister highlighted the significance of deepening relations between the two countries and implementing all agreements in sectors such as energy, transport, and others.

"Enhancing transport and transit potential between the two countries is on the agenda, and it is necessary to create new mechanisms for this purpose," Grigoryan noted.

The Deputy Prime Minister emphasized the importance of opening the Armenian consulate in Tabriz, stating that it would facilitate the activation of new economic and trade links.

Grigoryan also mentioned that it is crucial for Armenia to implement the project of the 'Persian Gulf-Black Sea' international transport corridor. He pointed out that Armenia's geographical location could play an important role in regulating relations between Iran and the countries of the Asia-Pacific region, as well as the EAEU.

In this regard, he underscored the importance of the agreement signed on the Free Trade Zone between the EAEU and Iran.

Addressing economic security and sustainability, the Deputy Prime Minister presented the Armenian side's initiated 'Peace Crossroad' initiative. He stated that Armenia is grateful to Iran for its position regarding Armenia's territorial integrity.