• time : 23:2:23
  • Date : Fri Jan 29, 2021
  • news code : 204202
Volume of trade between Iran and Armenia can increase up to one billion dollars a year
The volume of trade between Iran and Armenia is about $300 million, which can increase to $1 billion per year according to the export and import capacity of the two countries, Farhad Dejpsand said in a meeting with Vahan Kerobyan, Minister of Economy of the Republic of Armenia.

(SHADA: TEHRAN) -- In a meeting with his Armenian counterpart, Dejpasand, Iran’s Minister of Economy, called for the development of communication and financial infrastructures of the two countries, and said: Focusing on the Yerevan-Julfa-Tehran railway will develop trade relations between the two countries, and I will use my capacity as Minister of Economy in the country's economic councils and assemblies to expedite this matter.

Emphasizing on solving problems structurally, the Minister of Economy added: We must develop the customs relations between the two countries and these issues should not hinder the deep economic relations between the two countries.

He further pointed to banking and insurance cooperation between the two countries, and said: We must define new models of cooperation in this regard and have bilateral monetary, banking and financial exchanges in the form of bilateral agreements.

Dejpasand also suggested that a joint bank be established between the two countries to solve financial development problems.

A financial settlement model can be achieved to protect both Armenian government and businessmen, the Minister of Economy of Iran said, adding: In this regard, we have an experienced model and you can negotiate with the Deputy Minister and Head of the Organization for Investment, Economic and Technical Assistance of Iran and benefit from that mechanism.

Dejpasand pointed to the lack of an insurance memorandum between Iran and Armenia and said: Currently, considering the existing capacities in the field of transportation as well as the capacity of tourism cooperation, an insurance memorandum can be reached that will help resolve such issues.

At present, the volume of trade between the two countries is about $300 million per year, which according to the capacities of the two countries, this figure can reach one billion dollars, and given the export capacity of Iran, achieving this goal is not impossible, he continued.

In the field of foreign trade, we can also involve traders and merchants to maximize the volume of trade by introducing capacities. Many goods from other countries have entered Armenia, a significant part of which can be procured in Iran, which we suggest you consider as a golden opportunity, the Minister stated.

Dejpasand further pointed to foreign investment in the two countries with regard to existing opportunities and capacities, especially in the field of oil, gas and mining industries, and added: With joint foreign investment, we can make a specific product with a specific brand for the countries of the region and the Eurasian Union.

Referring to the historical background between the two republics, he said: These investments have expanded the relations between the two countries exponentially and have permanent effects and can be a launching pad for the two countries of Iran and Armenia in the region.

Dejpasand asked the Minister of Economy of the Republic of Armenia Vahan Kerobyan to use his role for full and permanent membership of Iran in the Eurasian Union and added: The issue of high costs of Iranian trucks in Armenia is also one of the urgent issues that Armenia must take action to address.

The Minister of Economy of the Republic of Armenia continued the meeting by pointing out that we can discuss the issue of insurance separately and apply export insurance in particular, which will encourage more investment and export of goods.

Referring to the development of trade exchanges between the two countries, he said: A group of entrepreneurs and business people from Armenia will be sent to an exhibition to be held in Isfahan next month, and an economic conference will be held in Armenia.

Noting that Armenia is the main negotiator for Iran's full membership in the Eurasian Union, he said: These talks will take place next month, and we are ready for that to happen as soon as possible.

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