Speaking at the closing ceremony of the 16th meeting of the Iran-Armenia Joint Economic Commission in Tehran on Tuesday evening, Deputy Prime Minister of Armenia Mher Grigoryan hailed the meeting as very useful and productive.

IRAN NEWS ECONOMIC DESK

He reiterated that Armenia is determined to boost its economic cooperation with Iran and by implementing the agreements,  the bilateral trade will be expanded.

During this two-day meeting, some agreements were reached on energy, transport, industry, trade, environment, and tourism, whose detailed results are well documented in the memorandum of understanding signed between the two sides, he stated.

The Armenian deputy prime minister further emphasized that the new deals are in line with the interests of both countries.

Iranian Energy Minister Reza Ardakanian, who attended the ceremony, said all existing capacities of the two countries should be tapped to boost economic cooperation and bilateral trade.

He went on to say that according to the agreement, the third energy line between Iran and Armenia will join the network by the end of 2020.

On increasing exports of gas to Armenia, Ardekanian said that Iran is to export gas to Armenia and Armenia in return can export electricity to Iran when the country demands, adding that both countries have had talks on increasing the gas exports and bartering goods.

Pointing to the joint work group in the industry, mine and trade sector of both countries, he said the group will hold meeting every six months.

Ardekanian added that standardization, boosting the capacity of tourism by launching free trade zones between both countries, identifying the delayed projects, forming joint commission on road transportation for easing transportation and activities in health tourism were of the major issues which were discussed during the meeting where both sides reach agreement on them and signed MoUs.

He noted that it is possible to quadruple gas exports to Armenia, noting that Armenia has land border with Iran and there are free trade zones on both sides of the border and Iran’s private sector can take advantage of it for exports.

Ardekanian reiterated that Iran’s policy is to expand ties with neighboring states.

Tehran and Yerevan in recent years have ramped up efforts to boost bilateral relations in diverse economic and political fields.