Wednesday, July 3 2019 11:25

ArmInfo. The 16th meeting of the Joint Intergovernmental Commission between the Republic of Armenia and the Islamic Republic of Iran was held in Tehran under the  chairmanship of the Deputy Prime Minister of the Republic of Armenia  Mher Grigoryan and the Minister of Energy of the IRI Reza Ardakanian.

According to the office of the Deputy Prime Minister, in his  welcoming speech, Mher Grigoryan thanked the Iranian side for  organizing the meeting of the intergovernmental commission and the  warm meeting of the Armenian delegation. The Deputy Prime Minister  called the work of the working groups effective these days and  expressed confidence that the time allotted for the meeting will be  used most effectively to coordinate issues on the trade and economic  agenda of the two countries.

The Armenian Deputy Prime Minister noted that the current high level  of Armenian-Iranian relations, based on the traditions of mutual  trust and good neighborliness, is the key to deepening mutually  beneficial cooperation between the two countries. He stressed that  the 16th meeting of the intergovernmental commission is the first  after the ratification by the parliaments of the two countries of the  interim Agreement on the establishment of a free trade zone between  the EAEU member states and Iran. Grigoryan called holding the meeting  a good opportunity to consider new possibilities for the development  of trade relations in bilateral and multilateral formats also within  the framework of the agreement.  During the meeting, members of the  commission discussed issues of deepening cooperation in areas of  mutual interest, touched upon the development of relations in the  field of energy, environment, transport, finance, trade, economy,  education, culture and other industries.

At the end of the meeting, the signing ceremony of the Memorandum of  Understanding on the 16th meeting of the Joint Intergovernmental  Commission between the Republic of Armenia and the Islamic Republic  of Iran took place.

According to the RA Statistical Committee, the foreign trade turnover  between the RA and the IRI increased by 40.5% in 2018, reaching $  363.6 million. In particular, exports increased by 12% to $ 94.2  million, while imports growing by 54.2% to $ 269.4 million.

Earlier, on June 10, the Iranian parliament ratified the Agreement on  the establishment of a free trade zone with the EAEU. The countries  of the Eurasian Economic Union (EAEU) and Iran signed a temporary  agreement on the creation of a free trade zone during the Astana  Economic Forum on May 17, 2018. It is designed for three years and  provides for the formation of a free trade zone (FTZ) for a limited  range of goods between the EAEU and Iran. Under the terms of the  agreement, not later than one year after its entry into force, the  parties undertake to begin negotiations on the conclusion of a  full-fledged free trade agreement. The implementation of the  agreement will contribute to an increase in the volume of trade and  the development of economic ties between its participants, an  increase in the supply of Russian industrial and agricultural  products to Iran. According to 2018, the trade turnover between Iran  and the EAEU countries - Russia, Kazakhstan, Belarus, Kyrgyzstan,  Armenia - is estimated at $ 2.7 billion per year.  The document  envisages the basic rules of trade between the EAEU and Iran, as  close as possible to the rules of the WTO, and also covers issues of  the most favored nation and national treatment, the application of  protective measures and customs administration. The Iranian side will  be provided with tariff preferences for an expanded list of  foodstuffs, primarily vegetables, fruits, dried fruits, as well as  building materials, dishes, carpets, and some non-ferrous products.  The Eurasian Economic Union will give customs preferences for  exporting meat, confectionery, medicines to Iran, and plans to buy  vegetables, fruits, building materials there.