Iran is scheduled to open a trade center in Armenia in the near future, according to the director of international affairs of the Ministry of Cooperatives, Labor, and Social Welfare.
Hamed Forouzan, who was speaking during a webinar with his Armenian counterpart Hambardzum Minasyan on Friday, said that inauguration of Iran’s trade center in Armenia will take place simultaneous with an upcoming visit to Yerevan by Iranian Minister of Cooperatives, Labor, and Social Welfare Hojjatollah Abdolmaleki.
He said that the trade center in Armenia would serve as a permanent exhibition of Iran’s economic capabilities in the country.
The official also said that the trade center would help introduce the Iranian knowledge-based know-how to the neighboring country.
Iranian Minister of Industry, Mine and Trade Reza Fatemi Amin said early in March that the current annual trade between Iran and Armenia stands at $500 million which is not considered as satisfactory by both countries.
He said that an annual $1 billion of trade between Iran and Armenia is within the reach.