TEHRAN (Iran News) – The central banks of Iran and Armenia have been urged to support more of a barter trade mechanism between the two states.

Deputy Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) for International Affairs Mohammad-Reza Karbasi met with Director of Union of Manufacturers and Entrepreneurs of Armenia (UMEA) Gagik Makaryan and during the meeting, both sides explored the economic capacities of the two countries for the future cooperation.

The two sides in the meeting emphasized barter trade as the major way for enhancing trade exchanges between Iran and Armenia and they called for more supports from the central banks of both countries for this mechanism.

In the meeting, Karbasi expressed hope that due to the positive approach of statesmen of Armenia and Iran for strengthening ties, hidden capacities of the two countries would be exploited and economic activists of Iran and Armenia would make the most of this opportunity.

He then briefed the Armenian officials about the actions of ICCIMA as well as the Iran-Armenia Joint Chamber of Commerce for strengthening bilateral relations of both countries.

Karbasi then pointed to the establishment of the Iran-Armenia Joint Chamber of Commerce and its actions, saying that one of the important goals behind the launch of the joint chamber has been to identify capacities ahead of the economies of Iran and Armenia.

He reiterated that Iran enjoys high potentials for production and commercial and agro capacities which can complete the capacities of Armenia and they can be used favorably in line with the bilateral interests of both countries.

He went on to say that Armenia as a member of the Eurasian Economic Union can be a land gateway for Iran for its access to the Eurasian member states, and through launching joint venture companies in the transportation sector, Iran can use this capacity for faster transfer of goods to Eurasia.

Karbasi added that agro and fishery are two intact sectors by both countries and announced the readiness of Iran for cooperation in the aquatic sector. He also pointed to the strong capabilities of Iranian companies active in the technical and engineering sector and announced readiness for implementing joint projects with the Armenians.

He then reiterated that barter trade can be a good and important mechanism for boosting bilateral trade and urged the central banks of both countries for supporting this mechanism.

Then Makaryan, for his part, explained the reason for the launch of the UMEA and said that the goals of the union are in close cooperation with the Armenian government, reiterating that international cooperation and developing exports are the major priorities of the union.

He termed the exchange of technical know-how is of the most important fields for cooperation between Iran and Armenia, reiterating Iran’s capacity in this field is very important for Armenia.

He also urged ICCIMA to prepare a list of Iranian companies which are keen to be active in Armenia. He emphasized that currently there are some dormant factories in Armenia and through cooperation with these companies, the factories can resume their activities, production of joint goods, and their exports could be shaped through cooperation between Armenian and Iranian partners.