Iran and Armenia to Increase Trade Volume to 3 Billion Dollars

Iran and Armenia have agreed to increase their trade volume to 3 billion dollars.

“Armenia, besides being a very important neighbor, is considered Iran’s strategic partner in economic and trade relations,” stated Davood Manzoor, the head of Iran's Planning and Budget Organization.

According to him, productive and positive negotiations took place between the two countries over the past two days, involving more than 20 Iranian institutions, ministries, and governmental organizations.

“Today we signed a document that includes 21 points across 19 different sectors between Iran and Armenia, which underscores the level of cooperation anticipated in the coming year,” Manzoor noted.

He also announced that an agreement has been reached on key sectors including investments, customs, free trade zone, transportation, oil, and gas.

“We hope that the signing of this document can elevate the level of trade between the two countries to 3 billion dollars, a figure previously agreed upon by the leaders of both countries,” added the head of Iran's Budget Organization.