ArmInfo. Cancellation of sanctions against Iran will open new market for Armenia's export but how much Armenia will benefit from it depends only on the competitiveness of Armenian products, economist Babken Tunyan stated at a press conference on January 18.
"In general, I assess cancellation of sanctions against Iran as a positive step, however one should net be very optimistic as we can export a very short range of products to Iran. According to the held monitoring, mining production and food products will be priority areas of Armenian export to Iran. At the same time cooperation with Iran in energy field will further develop", Tunyan noted, explaining that Armenia will be able to benefit from the provided opportunities as much as Iran will allow it.
According to the National Statistical Service of Armenia, turnover between Armenia and Iran in Jan-Nov 2015 totaled 249.6 mln USD with 5.3% yoy decline. Particularly, export of goods from Armenia to Iran declined by 8.2% to 71.1 mln USD, amid decline of import from Iran to Armenia by 4.1% to 178.5 mln USD.