Economy, Business And Markets

Armenian Expo Planned in Tehran

Armenia’s Deputy Economy Minister Hovhannes HovhanisyanArmenia’s Deputy Economy Minister Hovhannes Hovhanisyan

More than 70 Armenian companies producing food, medicines, construction materials, light industry products, jewelry, as well as companies offering IT, banking and insurance services will participate in an exhibition in Iran’s capital city Tehran on October 5-8.

According to deputy economy minister of Armenia, Hovhannes Hovhanisyan, on Friday, the aim of the exhibition is not only to expand trade relations with Iran, but also to position Armenia as a platform for Iran to enter the markets of the Eurasian Economic Union, Armenia’s ARKA news agency reported.

Hovhanisyan also said Armenian and Iranian entrepreneurs are expected to conclude a number of agreements and discuss the creation of a free economic zone on the border of Armenia and Iran. He also said Iranians are mostly interested in Armenian meat, cigarettes, batteries and mineral waters.

Karen Mkrtichean, the executive director of Armenia Development Foundation—the organizer of the exhibition, said applications for participation in the Tehran exhibition are accepted by September 20 at

“It is gratifying that 10 companies run by Syrian Armenians will also take part in the exhibition,” he said.

According to Armenian Deputy Foreign Minister Robert Harutyunyan, the exhibition is very important for enhancing the economic activities of the embassies of the two countries.

“Iran and Armenia do not yet use the entire trade and economic potential and this is why the interest of Armenian companies in this exhibition is so high,” he said.

Harutyunyan added that Iran and the Eurasian Economic Union are negotiating the establishment of free trade regime.

The exhibition is a joint initiative of the Armenian Economy Ministry, Armenian Development Foundation and the Armenian Embassy in Iran.

Armenia’s trade with Iran in the first half of 2016 amounted to $113.5 million, down 16.4% from the same period of last year.