Armenia, Iran consider establishing joint production of medical equipment

Iran-Armenia joint industry, mining, and trade working group held a meeting on Monday in which the two sides discussed the implementation of agreements and memorandums reached in the last meeting of Iran-Armenia Joint Economic Committee, Tehran Times reports.

Hosted by Iran’s Trade Promotion Organization (TPO), the event was attended by TPO Head Alireza Peyman-Pak, Director-General of the TPO’s office of Central Asia, Caucasus, and Russia Rahmatollah Khormali, as well as Armenia’s deputy economy minister.

The parties discussed issues such as Iran’s export of engineering and technical services to Armenia, barter trade between the two countries, developing the north-south corridor, establishing joint industrial parks, and joint production of medicine and medical equipment in Iran as well as the exchange of pharmaceuticals.

While welcoming the idea of the joint production of medicine and medical equipment in Armenia, the Armenian side considered this project as an opportunity to enter international markets.

Also, referring to the 33 percent growth of trade exchanges between the two countries in the first five months of 2022, the Armenian deputy economy minister welcomed the establishment of Iran’s trade center in Yerevan and requested to send business and pharmaceutical delegations from Iran to Armenia to get to know their counterparts and hold B2B meetings.

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