News ID: 314843
Published: 0203 GMT July 16, 2021

Armenia market an opportunity for Iranian small businesses: Deputy minister

Armenia market an opportunity for Iranian small businesses: Deputy minister

An Iranian deputy minister at the Ministry of Industry, Mine and Trade described neighboring Armenia’s market as a special opportunity for Iran’s small and medium-sized enterprises active in exporting foodstuff, home appliances and dried fruits.

Ali Rasoulian, the CEO of Iran Small Industries and Industrial Towns Organization, told IRNA on Friday that Tehran and Yerevan signed a memorandum of understanding (MoU) few days ago to expand cooperation.

Armenia, he said, is a member state of the Eurasian Economic Union, which can play a key role in turning into a transit root for Iranian commodities to Russia and even European countries.

The shipment corridor can be used for the export of goods, supply of technologies and machinery, as well as engineering and technical services, the deputy minister added.

Referring to his 2020 visit to Armenia and a meeting with the Armenian trade minister, Rasoulian said that Iran expressed readiness to pave the way for planning and constructing of industrial towns in the neighboring country.

According to the Iranian official, the Armenian industry is in dire need of Iran’s industrial progress, and the opportunity should be utilized in due time.

“Otherwise, the rival states will take the opportunity.”

Trade exchanges between Armenia and Iran increased from about $80 million to around $500 million in recent years, Hassan Mortaji the organizer of international fairs in member states of the Eurasian Economic Union (EAEU) and the Commonwealth of Independent States (CIS), told IRNA.

House building materials, agriculture products and equipment, foodstuff, medical tools, home appliances and solar panels are among the Iran-made commodities which can find proper demands in Armenia, he said.

Head of the Iran-Armenia Joint Chamber of Commerce Hervik Yarijanian has also pointed out the mutual trade between the two countries, noting that setting up a new free trade zone in the joint border can help increase trade volume.

Yarijanian expressed hope that, thanks to neighborliness, the two countries can magnify trade to $1.2 billion within less than one year.



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