News ID: 269418
Published: 0212 GMT May 25, 2020

Iran, Armenia discuss facilitation of trade

Iran, Armenia discuss facilitation of trade

Iran and Armenia discussed facilitation of trade in a meeting held via video conference, Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) announced.

During the meeting, Mohammadreza Karbasi, the ICCIMA vice chairman for international affairs, emphasized that Iran attaches priority to its neighbors for trade.

“Iran and Armenia have many cultural commonalities while a positive diplomatic relationship, so there is no limitation for the expansion of ties with Armenia, especially considering the free trade agreement (FTA) that Iran has signed with the member states of Eurasian Economic Union (EEU) which has improved trade condition,” Mehr News Agency quoted him saying.

Last January, the head of Iran-Armenia Joint Chamber of Commerce said Iran’s trade agreement with the Eurasian Economic Union has had a significant impact on the country’s trade relations with Armenia.

 “The two sides are applying tariff discounts offered based on the agreement and there has been no problem in this regard,” Hervik Yarijanian told IRNA.

The volume of trade between the two countries has witnessed an outstanding rise since the agreement became effective in October 2019, he said.

Iran mainly imports red meat from Armenia, while Armenia imports polymer raw materials, machinery, industrial gases, manufactured artifacts, leather, and leather goods from Iran.

Iran and Armenia have been emphasizing the need for preserving and expanding trade relations between the two countries since the preferential trade deal between Iran and EEU was implemented.

While the US renewed sanctions on Iran are aimed at isolating the Islamic Republic both politically and economically, Iran’s relations, especially in the economic sectors, with its neighbors are seemed not to be affected by the sanctions.

The northwestern neighbor Armenia is one of the countries preserving and expanding its economic relations with Iran regardless of the sanction condition.

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