Economics

Iran, Armenia kick off economic talks

The 12th Iran-Armenia joint economic cooperation commission starts in Tehran today and will continue for two days , Mehr News agency reports.

The bilateral commission meeting will be attended by 8 cabinet ministers of Armenia including ministers of Energy and Natural Resources, Finance, Communications, Foreign Affairs, Agriculture, City Planning, Health, and Culture who are in Tehran to extend bilateral economic and industrial ties with Iran.

Hamid Chitchian, Iran’s minister of energy and Yervand Zakharian, Armenian minister of energy and natural resources will chair the meetings.

The 2-day meetings will focus on joint economic and industrial ventures, technical and engineering services exchange, energy especially natural gas and electricity bartering as important subjects of interest.

Iran and Armenia had already hammered out an initial agreement on constructing of a joint hydroelectric power plant on River Araxes, natural gas and electricity barter, and construction of a electricity transfer line, where both sides discussed transfer of Iran’s electricity through Armenia, Republic of Azerbaijan, Georgia, and Russia. Hamid Chitchian and his counterpart had told recently that they agreed on construction of two power plants on River Araxes, with banking and financing arrangements being solved to launch the project as soon as possible.

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