Armenia, Iran explore ways to eliminate barriers to the development of economic relations

Armenia and Iran have signed a Memorandum of Understanding on establishment of a working group that will study the procedures that hinder trade and economic relations and will make proposals on their elimination.

The document was signed by Armenia’s acting Minister of Economy Vahan Keronbyan and Iranian Minister of Roads and Urban Development Mohammad Eslami.

A wide range of issues of mutual interest were discussed during the meeting, including investment attraction, the possibility of building an industrial camp with the participation of the Iranian side, improving the logistics infrastructure, simplifying and regulating the procedures in the process of cargo transportation, and reviewing the rates of Iranian transit cargo through Armenia.

Vahan Kerobyan noted that strong partnership has been established between Armenia and Iran in the economic sphere, and noted that the Armenian side is interested in expanding mutually beneficial cooperation and trade and economic relations with Iran, as well as taking practical steps to implement the agreements reached.

Mohammad Eslami, in turn, reaffirmed the readiness of the Iranian side to implement initiatives to deepen economic ties, and expressed confidence that the great potential for cooperation between the two countries could be realized by involving Armenian and Iranian companies in joint projects.

The meeting also touched upon the possibility of launching new direct flights between Armenia and Iran, which may be an additional impetus for intensification of cooperation in the tourism sector.

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