TEHRAN – Iran plans to boost trade exchanges with Armenia to $1.0 billion as the neighbor is Iran’s gateway to the Eurasian market, an official with Iran’s Trade Promotion Organization (TPO) said.

Akbar Godari, the head of TPO’s Central Asia, Caucasus, and Russia Office, told IRIB: “Our goal is to increase exports to Armenia to one billion dollars in the first step and to three billion dollars in the long term; we expect to have a 20-30 percent growth in trade with this country in the next year.”

According to the official, Iran exported more than $412 million of goods to Armenia in the previous Iranian calendar year 1402 (ended on March 19) while imports from this country stood at $45 million.

He said the exports to Armenia reached $225 million in the first six months of the current Iranian calendar year (March 20-Septemebr 21), registering a growth of 15 percent compared to the same period last year.

Food products, fruits and vegetables, cement, rebar, chemicals, polymer materials, and bitumen were the top exported items to Armenia in the mentioned six months, Godari added.

Pointing out that Armenia imports $5.0 billion worth of goods and exports $4.0 billion annually, he said: “China is the first trade partner of this country, followed by Russia, and Armenia’s third trade partner is Iran.”

EF/MA