• Samba 65 00% 56.65%
    Joga2002 635.254 50% 63.63%
    Bra52 69 23.145% -63.25%
    Joga2002 635.254 50% 63.63%
  • HangSang20 370 400% -20%
    NasDaq4 33 00% 36%
    S&P5002 60 50% 10%
    HangSang20 370 400% -20%
    Dow17 56.23 41.89% -2.635%

EghtesadOnline: A commercial delegation comprising businesspeople and members of Iran Chamber of Cooperatives is scheduled to visit Armenia from March 2-5 for expanding bilateral trade.

The delegation will hold meetings with Armenian economic players and merchants as well as officials from the neighboring country’s chamber of commerce and industries, engage in B2B negotiations and visit industrial sites in Yerevan, the news portal of Iran Chamber of Commerce, Industries, Mines and Agriculture reported.

Businesspeople interested in the event may contact 05832285835 or 09120925689 for more information. 

Iran and Armenia traded 1.09 million tons of commodities worth $264 million during the first nine months of the current Iranian year (March 20-Dec. 20, 2020), registering a 29% decline in value compared with the similar period of last year, according to the chairman of Iran-Armenia Chamber of Commerce.

“Iran’s exports amounted to 1.08 million tons worth $251.63 million, registering a 26% year-on-year fall,” Hervik Yarijanian was also quoted as saying by Fars News Agency.

The official noted that imports stood at 5,619 tons worth $12.36 million.

Referring to Iran’s ample capacity to boost trade with Armenia, the official said trade expansion with Armenia facilitates Iran’s presence in the markets of the Commonwealth of Independent States, the Eurasian Economic Union and Europe. 

Yarijanian noted that Armenia has placed a six-month ban on the import of goods from Turkey.

“We have an opportunity here to introduce our high-quality goods into the Armenian market and gain a foothold in the absence of a main rival. For this to happen, we need the cooperation of all state-owned and private sector enterprises. On top of different kinds of commodities, Iran can export services and technical knowhow to Armenia at more reasonable prices than those offered by other regional rivals.” 

Gholamhossein Shafei, the head of Iran Chamber of Commerce, Industries, Mines and Agriculture, said the two sides can engage in joint production by establishing production units in Armenia or transfer some of the production lines of certain commodities to the neighboring country. 

Armenian Minister of Economy Vahan Kerobyan was in Tehran in January for talks with Iranian officials to boost bilateral economic ties.

Hamid Zadboum, the head of Trade Promotion Organization of Iran, has described Armenia as “Iran’s gateway to the Eurasian Economic Union region”.

Mojtaba Mousavian, the deputy head of Trade Promotion Organization of Iran, said negotiations were held on expanding the list of commodities included in the preferential trade agreement signed by Iran and the Eurasian Economic Union, as well as enhancing banking and transit cooperation and linking Aras Free Trade Zone in Iran’s East Azarbaijan Province with Meghri Free Economic Zone in Armenia’s Syunik Province.

“Armenia has announced plans to replace 2,250 Turkish products with Iranian goods,” the official said.

"Due to Turkish sanctions, Armenia intends to replace Iranian goods with 2,250 items imported from Turkey." 

Mousavian noted that Armenia will also procure its raw material requirements from Iran.

The Yerevan government suspended the import of Turkish goods to Armenia as of Jan. 1 in response to Turkish military support for the Republic of Azerbaijan.

Armenia’s Ministry of Economy has said that the ban will not increase the price of goods in the country because it believes that the consumption of Turkish goods is not dominant in this country and Yerevan is able to compensate for the shortage of Turkish goods from Iran, Belarus, Russia and China.

“Iran’s exports to Armenia reached $330 million in 2019, 29% and 20% of which pertained to oil derivatives, and cement and clinker respectively. Other main exported products were iron, steel and plastic products, fruit and vegetables, tiles and ceramics, construction glass, chemicals and fertilizers,” Behrouz Hosn-Olfat, another TPO official, was quoted as saying.

Iran’s Ambassador to Armenia Abbas Zohouri, during a recent trip to the Aras Free Economic Zone, visited the Norduz checkpoint that links Armenia to Iran, the FEZ’s press service said.

“As Iran’s gateway to the Eurasian market, the Norduz border plays an important role for the country’s exports and attraction of foreign currency, and creates conditions for the growing presence of Iranian products in Eurasian and CIS markets,” the ambassador said during a meeting with the head of Jolfa County and other local officials, Armenpress reported.

Zohouri stressed that the border crossing point has a favorable condition for Jolfa County and Aras FEZ, and affirmed the importance of attracting investments and developing cooperation.

The Meghri-Norduz border checkpoint is the only land border between Armenia and Iran. There are free economic zones operating on both sides and the development of cooperation in these zones and the checkpoint is on the agenda of discussions.


trade Armenia commercial