TEHRAN (Iran News) –Iranian Labor and Social Welfare Minister Solat Mortazavi has said Tehran and Yerevan are determined to use all their capacities to expand economic ties, IRNA reported.

Mortazavi made the remarks in a meeting with his Armenian counterpart Narek Makratchian in Yerevan on Monday.

Referring to the targeting of three billion dollars of annual trade between Iran and Armenia, Mortazavi said the development of all-out ties with Armenia is one of the priorities of the Islamic Republic of Iran.

The minister stated that the main approach of the Iranian government is to advance economic diplomacy with neighboring countries, especially in the Caucasus region, adding: “Iran and Armenia’s interactions in the economic, commercial, and investment fields are going to be diversified.”

“The Islamic Republic of Iran is ready to put all its facilities and capacities in the service of establishing peace and stability in the Caucasus region,” he said.

Makratchian for his part referred to the long-standing and friendly relations between the two countries and noted that the joint cooperation between the ministries of labor of Iran and Armenia in the field of social welfare, employment, well-being, and the development of technical and vocational training complexes will expand with the formation of joint specialized working groups.

“The Ministry of Labor of the Republic of Armenia is fully prepared to develop economic and social cooperation with the Ministry of Labor of the Islamic Republic of Iran,” he stressed.

Mortazavi, who visited Yerevan on top of a high-ranking delegation, also met with Gnel Sanosyan, Armenia’s minister of territorial administration and infrastructures.

During this meeting, the minister expressed Iran’s readiness to cooperate with Armenia in all areas.

Iran and Armenia always enjoy very good friendly relations based on mutual respect and good neighborliness, he underlined.

The official emphasized the significance of Armenia for the Iranian foreign policy, saying that Armenia’s role in the development of foreign relations and access to the Eurasian Union market is of prime importance for Iran.

He further mentioned some of the areas for mutual cooperation, saying that various projects in the fields of construction, road, tunnel digging, dam construction, urban development, energy infrastructure as well as technical and engineering services are among spheres of cooperation between Tehran and Yerevan.

The Armenian minister, for his part, said that the Armenian government pays special attention to the development of cooperation with the Islamic Republic in its five-year plan.

Heading a high-ranking delegation, Mortazavi traveled to Yerevan on Sunday evening on an official invitation from the Armenian the Minister of Labor and Social Affairs.