TEHRAN (Iran News) – Head of Iran’s Trade Promotion Organization (TPO) Hamid Zadboum and Armenian Deputy Economy Minister Varos Simonyan met on Tuesday in Tehran to discuss ways of removing the barriers in the way of trade between the two countries.

As reported, the officials underlined the significant growth in the level of trade between the two countries and stressed the need for planning to further develop cooperation within the framework of the preferential trade agreement with the Eurasian Economic Union (EAEU) and achieve the desired level of bilateral trade.

Speaking in the meeting, Zadboum referred to the two countries’ deep cultural, historical, and political relations and stated: “The Trade Development Organization of Iran is ready to hold a meeting of the [two countries] joint industrial, mining and commercial working group in order to identify obstacles and problems facing bilateral trade and to take appropriate and effective decisions to address them.”

He further expressed satisfaction with the holding of Iran’s exclusive exhibition in Armenia earlier this month and noted that holding such events in the two countries and the exchange of trade delegations is necessary to better introduce export capabilities and to exchange information related to the needs of the two markets.

Zadboum also pointed to the removal of non-tariff barriers and reduction of logistics and transportation costs, along with the expansion of the scope of the preferential trade agreement between Iran and the EAEU, as important factors in increasing the level of trade relations between the two countries and called for addressing such subjects in the joint working groups.

Simonyan for his part welcomed the holding of a joint working group on industry, mining, and trade as soon as possible, and announced his readiness to hold expert talks during the meetings of the joint working group between the two countries.

***Stressing joint investment

The Armenian deputy minister also met with Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) Gholam-Hossein Shafeie, in which the two sides stressed the need for boosting joint investment in various sectors.

In this meeting Shafeie noted that Iran and Armenia could become good trade partners among the EAEU members.

Mining, livestock and agriculture, textiles, clothing, construction, technical and engineering services, as well as transportation and transit were among the areas mentioned by the officials for mutual cooperation.

Back in January, Iran, and Armenia signed a memorandum of understanding (MOU) for the expansion of trade ties between the two countries.

The MOU was signed by Iranian Industry, Mining and Trade Minister Alireza Razm Hosseini and the Armenian Economy Minister Vahan Kerobyan in Tehran.