NEIGHBORLY BUSINESS: TRADE ON THE RAPID RISE BETWEEN ARMENIA-IRAN
Sergo Karapetyan

07.09.11 | 11:09

>From Fars News Agency

Trade between Armenia-Iran has increased by 200-300 percent in the
past few years, according to Armenia’s Minister of Agriculture Sergo
Karapetyan.

“During the last two years the volume of exchanges between Iran and
Armenia has doubled or tripled,” Karapetyan said after meeting Iranian
Agricultural Jihad Minister Sadeq Khalilian in Iran earlier this week.

He described his visit to Iran as “fruitful” and “constructive”, and
said during the trip the two sides inked a Memorandum of Understanding
(MoU) to further expand their mutual cooperation.

Karapetyan said that the Iranian and Armenian officials have also
held negotiations to boost Tehran’s investment in Armenia.

Iran and Armenia have taken major strides to promote their bilateral
relations in the last few years. The bilateral trade volume between
the two states stands at nearly $270 million, a figure that is expected
to rapidly climb.

Iran and Armenia have mainly expanded cooperation in power and gas
swap in recent years.

Iran mainly exports natural gas to Armenia and imports power supplies
from the Caucasian state through two transfer lines.

On the agenda for trade cooperation is a third power line for which
funding of at least $110 million is being sought.

From: Emil Lazarian | Ararat NewsPress