TEHRAN – Head of Iran’s Trade Promotion Organization (TPO) Alireza Peyman-Pak and Armenia’s Deputy Economy Minister Narek Teryan stressed the need for expansion of economic ties and removing barriers in the way of trade exchanges in a meeting on Tuesday.

The meeting was also attended by Armenia's new Ambassador to Tehran Arsen Avagyan, the TPO portal reported.

In this meeting, Peyman-Pak referred to some of the measures taken by the Trade Promotion Organization to facilitate trade between Iran and Armenia including appointing a new commercial attaché and negotiating for opening a trade center in Yerevan.

He further stressed the existing opportunities for developing trade relations between the two countries considering Armenia's privileged position for trade with the Eurasian Economic Union (EAEU).

The official also stressed the need to increase the exchange of trade delegations, ministerial visits, and the active presence of the two sides’ companies and traders in each other’s exhibitions as well as the use of the capacity of free trade zones on the borders of the two countries.

Narek for his part welcomed the TPO head’s proposals for increasing the exchange of business delegations, ministerial visits, face-to-face meetings of businessmen, and the effective operation of the Iran trade center in Armenia and expressed his readiness to facilitate the implementation of joint projects of Iranian companies in Armenia.

He also welcomed the recent improvements in the activities of the two countries’ industrial and mining working group for facilitating trade cooperation between the two countries.

Elsewhere in this meeting, Avagyan also raised some issues and challenges related to the development of economic relations between the two countries, which were decided to be put on the agenda of the specialized working group on cooperation between the two countries.

As long-lasting trade partners, Iran and Armenia have been taking new steps to boost the volume of economic exchanges between the two countries.

Back in November 2021, the head of Iran-Armenia Joint Chamber of Commerce and Industry said the two countries plan to establish a joint industrial park in the near future.

Hervik Yarijanian said the two sides also have the potential to cooperate in other fields like banking, finance, agriculture, and extraterrestrial farming.

“We are negotiating with Armenian authorities to provide the necessary basis for the two sides’ businessmen to be able to invest and produce goods together with the aim of gaining access to more distant markets such as Europe and Canada,” he said.

EF/MA