ArmInfo. Iran and Armenia signed a Memorandum of Understanding on the organization of joint production of agricultural machinery. About this, according to the Iranian agency Mehr, said the commercial attache of Iran in Armenia Mohsen Rahimi.
According to the agreement, the Iranian company will export to Armenia components for the assembly of agricultural machinery, as well as to assemble machinery in Armenia. The Armenian side promised to facilitate the preparation of all documentation, as well as the participation of the Iranian company at international fairs, providing technical, information and legal support. "At the first stage, the Iranian company seeks to enter the Armenian market, and then export products to the member states of the Eurasian Economic Union," Mehr said.
Earlier, ArmInfo reported that the Business Armenia Fund and the Iranian company Arad Agricultural Machinery signed a memorandum of cooperation on August 10, within which the latter will invest $ 1 million to start the production of agricultural machinery and production equipment in Yerevan. According to the executive director of VA Armen Avag Avagyan, 20 jobs will be created initially, and after training and retraining, their number will reach 100 people. He stressed that raw materials from Iran, Armenia and other countries will be used for production. The executive director of Arad Agricultural Machinery, Nasser Rahim, expressed the hope that production will begin in two months. According to the National Statistical Service of Armenia, the foreign trade turnover between Armenia and Iran in 2017 was $ 263.4 million, with an annual growth of 10.1%. In particular, exports increased by 11.8% to $ 84.2 million, while imports grew by 9.3% to $ 179.2 million. In the first half of 2018, the foreign trade turnover between the countries amounted to $ 154.6 million, with an annual growth of 40.8%. In particular, exports increased by 39.1% to $ 48.1 million, while imports grew by 41.6% to $ 106.5 million.
