TEHRAN – Armenia's ambassador to Iran Grigor Hovhannisyan has called for expanded bilateral cooperation to raise trade volume between Tehran and Yerevan to $3.0 billion, stressing that current economic ties fall short of the two nations’ strong political relations.

According to Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Hovhannisyan made the remarks during a meeting with the chamber's president, saying Armenia places high priority on ties with Iran and is eager to strengthen cooperation across economic, political, and cultural spheres.

“We face no restrictions in deepening our relations. To reach our initial goal of $1.0 billion in trade and eventually hit the three billion mark, we need joint efforts, especially between the chambers of commerce of both countries,” the ambassador said.

He emphasized the need to facilitate trade delegations and promote investment opportunities in Armenia, adding that the Armenian embassy is ready to assist Iranian investors in exploring the market.

Hovhannisyan highlighted the vital role of the private sector in advancing bilateral economic relations and invited Iranian businesses to participate in expos and explore joint venture opportunities.

He also called for the creation of mechanisms between the two chambers to resolve challenges hindering trade.

Pointing to Iran's observer status in the Eurasian Economic Union and the prospects of free trade with the bloc, he said the two countries could jointly manufacture goods for export to the Eurasian market.

Iran ready to export engineering services to Armenia

During the same meeting, ICCIMA Head Samad Hassanzadeh said Iran possesses significant capacity to cooperate with Armenia and sees the country’s location in Eurasia and shared cultural and social ties as strategic advantages.

“The Iranian private sector is ready to export technical and engineering services to Armenia and take part in infrastructure projects,” he said, noting potential collaborations in the health, medical, and pharmaceutical sectors as well.

He added that Iran’s private sector is capable of producing high-quality goods in fields such as oil, gas, petrochemicals, automotive, food industries, and construction materials.

Calling for improved support for Iranian tourists visiting Armenia, Hassanzadeh stressed the potential for expanding tourism and medical tourism between the two neighbors.

He also officially invited the Armenian ambassador to attend Iran Expo 2025, which opens on April 28 and is set to showcase Iran’s production and export capabilities to international business delegations.

EF/