Economy

Following Iran-EAEU FTA, trade between Armenia and Iran rises

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Following Iran-EAEU FTA, trade between Armenia and Iran rises

YEREVAN, JANUARY 10, ARMENPRESS. The free trade agreement between the EAEU and Iran has had a significant impact on Armenia-Iran bilateral trade, ARMENPRESS reports head of the Iran-Armenia Joint Chamber of Commerce Hervik Yarijanian told IRNA news agency.

Hervik Yarijanian said that the Iranian and Armenian parties are using tariff discounts in line with the agreement.

He went on to say that the volume of trade with Armenia during the period of the agreement entering into force has significantly increased. He clarified that Iranian products are now cheaper than those of Turkey, which give Iran an advantage in the Armenian market.

Yaryjanian noted that the major item exported from Armenia to Iran is red meat. Iran also exports polymer raw materials, machinery, industrial gas, leather to Armenia.

Earlier “Tehran Times” wrote that despite of the resumption of the U.S. sanctions on Iran, Armenia preserves and expands economic relations with Iran.

The FTA between Iran and EAEU entered into force on October 27, 2019/

Edited and translated by Tigran Sirekanyan

AREMNPRESS

Armenia, Yerevan, 0002, Martiros Saryan 22

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