ArmInfo.Armenian Ambassador to Iran Artashes Tumanyan stated that a joint project on electric power transmission between the two countries is underway, despite the coronavirus pandemic.
"Joint projects between Iran and Armenia are not closed, and preparations are underway to send 60 people from Iran to Armenia to work on the third power line between the two countries," Tumanyan said at an online meeting on the consequences of the COVID-19 outbreak in the region, as reports Mehr News.
Iran and Armenia have been cooperating for years on gas and electricity exchanges, and bilateral economic and political ties have grown in tandem with increased trade. Armenia has repeatedly stated its readiness to conclude swap agreements with Iran.
Back in July 2019, two countries signed a memorandum of understanding (MOU) in Tehran to expand economic cooperation, especially in the energy field.
Based on the memorandum, both parties agreed to complete the construction of a third power transmission line from Iran to Armenia by 2020 in order to increase electricity exports to Armenia from the country to 1000 megawatts (MW).
The memorandum also covered cooperation in various fields, including road and rail transportation, customs, standardization, creation of free trade zones, as well as industry, mining and trade. Iran and Armenia use the barter system to exchange gas for electricity and other basic goods.
