Trade between Armenia and Iran grows 6% in five months - IRICA report

YEREVAN, SEPTEMBER 23, ARMENPRESS. The value of non-oil trade between Armenia and Iran rose 6 percent in the first five months of the current Iranian calendar year (March 20-August 21), as compared to the same period of time in the past year, Tehran Times reported citing a report by the Islamic Republic of Iran Customs Administration (IRICA).

The IRICA report put the non-oil trade between the two countries at 885,719 tons worth $192.108 million, with 60 percent growth in weight, year on year.

Armenia was the 10th top trade partner of Iran among the Islamic Republic’s neighbors in the first five months of the present year.

The 18th meeting of the Armenia-Iran Joint Economic Committee was held in Tehran during February 14-15, in which the two sides signed 19 documents and memorandums of understanding (MOUs) to enhance cooperation in various areas.

The mentioned documents covered a variety of areas including trade development, customs cooperation, maritime transportation, food, and medicine.

The 18th meeting of the Armenia-Iran Joint Economic Committee meeting, hosted by Iran’s Plan and Budget Organization (PBO), was attended by senior officials and ministers from the two sides including the PBO former Head Davoud Manzour, Deputy Prime Minister of Armenia Mher Grigoryan, Armenian Minister of Territorial Administration and Infrastructures Gnel Sanosyan, Armenia’s Deputy Minister of Economy Narek Teryan, and the former Head of Iran’s Trade Promotion Organization (TPO) Mehdi Zeighami.

Speaking at the meeting, Mher Grigoryan said Iran and Armenia can increase their annual trade to $3 billion.