Armenia Export Growth in Iran Tops 11%

Armenia has recorded an unprecedented growth in exports to Iran in Jan.-Aug. 2017, Armenia’s economic development and investments minister told journalists on Wednesday.  “This is unprecedented growth, since we have never had such a growth,” Suren Karayan was also quoted by Armenia’s Arka news agency as saying.  According to the National Statistical Service, Armenia’s exports to Iran totaled $54.8 million in this period, showing an 11.2% year-on-year growth. In his words, preparations for signing the agreement on free trade between Eurasian Economic Union member countries and Iran are underway.  “The negotiations have already entered the final stage,” Karayan said.  “They imply that Armenia will receive customs preferences for exporting to Iran 40 Armenia-made commodities that are demanded in Iranian market.” In particular, he said, Armenia pays a 55% customs duty for exporting mineral water to Iran, while after enforcement of the preferences, the highest rate will be 10%.