Deputy Prime Minister of Armenia Mher Grigoryan says Iran and Armenia are able to increase the volume of trade to $3 billion.
Iran and Armenia have signed a contract based on which two Iranian contractors will construct the 32km Agarak-Kajaran road in Armenia as part of efforts to complete a strategically significant International North-South Transit Corridor (INSTC).
Armenia is seeking to export its goods through Iran to the Arab countries of the region and India, as the country is trying to also increase trade with the Islamic Republic, Fars News Agency reported citing ARMENPRESS.
Talks are ongoing between Tehran and Yerevan on adjusting customs tariffs for the entry of transit trucks and streamlining customs activities electronically at the border with Armenia, an official said.
The National Iranian Gas Company (NIGC) has renewed a contract with Armenia to increase the volume of natural gas exports to the landlocked neighboring country until 2030.
President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Hossein Selahvarzi says the ICCIMA intends to push the economic diplomacy policy for promotion of relations with neighboring countries which has already begun by the government.
Iran’s Minister of Cooperatives, Labor and Social Welfare Solat Mortazavi said on Tuesday that Armenia is an important actor for Iran in terms of accessing the Eurasian Economic Union (EAEU) market, Armenpress reported.
Iran will double its natural gas supply to Armenia under an extended gas-for-electricity swap deal that will run until early 2031.
Iranian Deputy Minister of Industry, Mine and Trade Alireza Peymanpak said on Saturday that an Iranian automaker is scheduled to launch a production line in Armenia in a bid to begin exports to the Eurasian Economic Union (EAEU).
Major Iranian automaker Iran Khodro Company (IKCO) has begun the exports of two products to neighboring Armenia.