TEHRAN – The value of trade between Iran and Armenia reached $263.5 million in 2017, a 10.3 percent increase compared to the previous year.

According to Hamaiak Avadisyanes, Iran’s commercial attaché in Yerevan, the country exported $179.3 million worth of goods to Armenia in 2017 and trade balance between the two countries has been $95 million tipped in favor of Iran, IRIB news reported on Monday.

Iranian exports to Armenia rose by 9.3 percent in 2017, the official noted.

Earlier on Sunday, Iran and Armenia also signed a gas for power transfer deal and inaugurated a radiotherapy center in an Armenian hospital.

The third phase of transmitting electricity from Armenia to Iran and transferring gas from Iran to that country was signed between the two sides in Armenia, IRNA quoted Iranian Ambassador to Yerevan Kazem Sajjadi.

EF/MA