TEHRAN –Iran has expressed readiness for conducting various infrastructure projects including dams, roads, and power plants in Armenia, the portal of Iran’s Trade Promotion Organization (TPO) reported.

The announcement was made during a meeting between Iranian Industry, Mining, and Trade Minister Reza Fatemi-Amin and TPO Head Alireza Peyman-Pak with Armenian Minister of Territorial Administration and Infrastructure Gnel Sanosyan.

In this meeting, while expressing the capabilities of Iranian companies in the field of technical and engineering services, Peyman-Pak expressed the readiness of Iranian companies for providing power plant services as well as the supply of fuel including gasoline and diesel to Armenia.

As reported, during the meetings the two sides also discussed cooperation in other areas including transportation, mining, and transit.

Peyman-Pak further suggested that Iran and Armenia could also cooperate in the mining sector since Armenia has large copper and molybdenum mines and exports the minerals in the form of concentrate to other countries.

According to the official, considering high gas prices in Armenia it is not economically justifiable to melt minerals and create products with more added value, so Iranian companies that have bioleaching technology can cooperate with Armenia in this regard to jointly produce copper ingots using the mentioned technology that does not require heat and melting.

Iranian Industry, Mining, and Trade Minister Reza Fatemi-Amin traveled to Armenia on top of a delegation on March 3, seeking to strengthen the economic ties between the two countries.

Upon arrival, Fatemi-Amin met with Armenian Economy Minister Vahan Kerobyan to discuss mutual areas for economic cooperation.

During the visit of the Iranian delegation to Armenia, several specialized meetings were also held between the businessmen of the two countries, and the representatives of the two sides’ private sectors held B2B meetings to exchange ideas and learn about potential areas for mutual cooperation.

Trade relations between Iran and Armenia have dramatically expanded after Iran signed a Free Trade Agreement with the Eurasian Economic Union (EAEU) in October 2019.

The Republic of Armenia is a landlocked country located in northwestern Iran. The two countries share a 44-kilometer border.

EF/MA