Iranian Minister of Industry, Mine and Trade Reza Fatemi Amin, who is on a visit to Yerevan, said on Thursday that an annual $1 billion of Trade between Iran and Armenia is within the reach.
The current annual trade between Iran and Armenia stands at $500 million which is not considered as satisfactory by both countries, Fatemi Amin was quoted as saying by official IRNA news agency.
He said that expansion of foreign trade is one of the main priorities of the Iranian government under President Ebrahim Raeisi.
Iranian exports to other countries has been booming this year, the minister said, noting that the country have to take some other steps to help the growth of exports.
Firstly the domestic hurdles on the way of exports have to be removed and then the country needs to hold talks with the target countries to discuss ways to eradicate obstacles facing bilateral trade, Fatemi Amin said.
The map shows Nordooz border crossing between Iran and Armenia
Underlining the significance of relations with neighboring Armenia, the minister said that Armenia also provides Iran with access to Russia, Caucasus region, Europe and the Eurasian countries in particular.
He referred to his meetings with Arminian Prime minister, Minister of Economy and Minister of Territorial Administration and Infrastructure and said “Iranian technologies are highly welcomed in this country and they openly asked us for transfer of technology.”
They also called on Iran to provide Armenia with the needed technology and spare parts so as to be able to produce home appliances inside Armenia, the minister added.