ArmInfo. Armenia aims to enhance trade and economic relations with Iran and increase bilateral trade turnover to $3 billion, as stated by Armenian Foreign Minister Ararat Mirzoyan at a joint press conference with his Iranian counterpart Abbas Araghchi.
The head of the Armenian Foreign Ministry highlighted the dynamic development of Armenian-Iranian relations across all sectors and noted that in 2024, trade turnover surpassed the previous five years, reaching $755 million. "We have expressed our willingness to increase this amount to $3 billion. I will add that the opportunities were enhanced by the agreement between Iran and the EAEU to establish a free trade zone," Mirzoyan noted. According to him, the Iranian side participates in infrastructure projects on Armenian territory. Particularly, the Iranian side is entrusted with the construction of the Kajaran-Agarak section, which is of great importance in the Crossroads of Peace project. "Thus, Iran was not only one of the first to welcome this initiative of the Armenian government, but also participates in its implementation in practice," the Minister noted.
In response, the head of the Iranian Foreign Ministry pointed out the untapped potential in bilateral relations. "Iran and Armenia are ready to facilitate transit and cargo transportation in both directions, towards the Black Sea and the Persian Gulf, India, Oman, to construct a new bridge on the Araks River," Araghchi said, adding that the implementation of the Crossroads of Peace project will create great opportunities for enhancing relations between the two countries.
According to data from of the RA Statistical Committee for January-December 2024, Iran ranks 4th in terms of foreign trade turnover with Armenia - $737.4 million, showing an annual growth of 6.5%. Particularly, imports from Iran increased by 5.2%, and exports - by 14.5%, totaling $629.2 million and $108.3 million, respectively. Iran's share decreased in both exports to 0.8% and imports to 3.7%.
