Domestic Economy

Iran, Armenia to Pursue Joint Exports to Third Countries

Iran, Armenia to Pursue Joint Exports to Third Countries
Iran, Armenia to Pursue Joint Exports to Third Countries

Armenia and Iran are coordinating efforts to undertake joint exports of goods to third countries, Armenian Economy Minister Vahan Kerobyan said on Thursday.
"There are problems with exports to Iran. We understand that there are certain limitations with Iran. Their economy is called "resistance economy," and they have little interest in importing goods. We really want the trade to be bilateral, but we understand that you can't force them to buy what they don't want," Kerobyan told parliament.
He noted that because of this, the parties are focusing on areas that have potential. 
"Using Armenia's transport and communication links, Iranian goods, after undergoing some processing in Armenia, are sent to the Eurasian Economic Union’s member states and other countries. We are concentrating our efforts on joint sales of goods to third countries," he was quoted as saying by ARKA news agency.
According to the National Statistical Committee of Armenia, Iran is one of Armenia’s top trade partners.
Trade between the two countries in the first eight months of 2022 amounted to $427.4 million, an increase of 43.4% compared to January-August 2021. Armenian exports to Iran amounted to $74.4 million (82.6% growth), while imports from Iran to about $353.2 million (36.1% growth).
Iran is set to increase bilateral trade with Armenia to $3 billion, Iranian President Ebrahim Raisi said at a joint press briefing with Armenian Prime Minister Nikol Pashinyan in Tehran on Tuesday.
"We have achieved a 43% growth in trade and economic relations with Armenia in recent months, but the goal is to increase the trade volume to $3 billion. This goal will certainly be achieved," the Armenian government's press service quoted Raisi as saying.
In turn, Pashinyan noted the need to specify Armenian-Iranian dialogue in the fields of agriculture, energy, infrastructure and management of water resources, and invited the Iranian president to visit Yerevan.
He also said Armenia and Iran had signed a memorandum of understanding to continue the gas-for-electricity program.
Armenian Territorial Administration and Infrastructures Minister Gnel Sanosyan and Iranian Deputy Minister of Petroleum and CEO of the National Iranian Gas Company Majid Chegeni signed in Tehran the MoU that extends the program envisaging electric power supplies to Iran in exchange for gas, the press service was cited as reporting by Interfax.

Add new comment

Read our comment policy before posting your viewpoints