Iran’s exports to Armenia stood at $180 million during the first half of the current Iranian year (March 21-Sept. 22), registering a 15% rise compared with the corresponding period of last year, according to the director general of Central Asia, Caucasus and Russia Department of Trade Promotion Organization of Iran.
“The figure does not take into account Iran’s gas exports. Last year [March 2021-22], $120 million worth of electricity and gas were exchanged between the two countries and the figure should be added to bilateral trade. It is estimated that the exchange of gas and electricity between the two countries will reach $400 million by the end of the current year [March 2023],” Rahmatollah Kharmali was also quoted as saying by IRIB News.
Armenia and Iran are focusing efforts on joint sales of goods to third countries, Armenian Economy Minister Vahan Kerobyan said earlier this month.
"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 trade to be bilateral, but we understand that you can't force them to buy what they don't want," Kerobyan was quoted as saying by ARKA news agency.
He noted that because of this, the two sides 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 state and other countries. We are concentrating efforts on the joint sale of goods to third countries,” he said.
According to the National Statistical Committee of Armenia, Iran is one of Armenia’s top trade partners.
Iran is set to increase trade with Armenia to $3 billion, Iranian President Ebrahim Raisi said at a joint press briefing with Armenian Prime Minister Nikol Pashinyan in Tehran.
"We have achieved 43% growth in trade and economic relations with Armenia in recent months, yet the goal is to increase trade volume to $3 billion. This goal will certainly be achieved," the Armenian government's press service quoted Raisi as saying.
In turn, Pashinyan stressed the need to specify Armenian-Iranian interactions 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 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 a memorandum extending the program envisaging electric power supplies to Iran in exchange for gas, the press service was reported as saying by Interfax.
