ArmInfo. Iran's trade volume with Armenia will triple after Tehran fully joins the Eurasian Economic Union (EAEU). According to the Mehr agency, Iranian Minister of Industry, Mines and Trade Seyed Reza Fatemi Amin said this during a meeting with Armenian Finance Minister Tigran Khachatryan.
According to him, when Iran's membership in EAEU is completed, bilateral relations will expand even more. The minister noted that the Iranian economic delegation during its visit to Armenia last year held extensive negotiations with their Armenian counterparts, which had a significant effect in developing economic ties between the two countries.
"Iran attaches great importance to its relations with neighboring Armenia, especially in the economic sector," Amin said, expressing hope for further strengthening of trade and economic activity between the two countries. He added that since the beginning of the year 2022, a significant, more than 40 percent growth has been recorded in the trade turnover between Iran and Armenia.
The Minister of Finance of Armenia, in turn, expressed hope that next year the volume of bilateral trade between the two countries will reach $1 billion.
It should be noted that according to the National Statistical Committee of the Republic of Armenia, the foreign trade turnover between the two countries for eight months of this year amounted to about $427.4 million, with an increase of 43.4% compared to January-August 2021. At the same time, the volume of exports from Armenia to Iran for the reporting period amounted to $74.4 million, providing an increase of 82.6%, and imports - about $353.2 million -with an increase of 36.1%.
