TEHRAN – Iran and Armenia plan to boost the current capacity of electricity exchange between the two countries by fourfold in the near future.

Iranian Energy Minister Hamid Chitchian said that once the third Iran-Armenia power transmission line comes on stream, it will increase the current 300 megawatts (MW) capacity to 1200 MV, IRIB reported on Monday.

Chitchian made the remarks on the sidelines of the 14th Iran-Armenia joint economic committee meeting in Tehran, co-chaired by Armenian Minister of Energy Infrastructures and Natural Resources Ashot Manukyan.

The Iranian minister underscored Iran and Armenia’s potentials for cooperation in different areas and urged the Armenian government to take necessary measures to facilitate trade between the two countries’ companies.

According to Armenian press, the country is eager to carry out huge work to increase its trade turnover with Iran.

Back in October, Armenia held its first exclusive trade exhibition in Iran and some 91 Armenian companies active in the sectors of construction, transportation, agriculture, tourism, information technology, banking and insurance as well as medical equipment, food and garment showcased their latest products and achievements in the four-day event.

EF/MA/MG