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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.

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Payman-Park attended a one-day workshop held in Yerevan for trade with Armenia which was aimed at introducing the target market of Armenia to Iranian traders. The workshop witnessed the presence of ambassadors of both countries and some officials of both states.

Speaking in the workshop, Peyman-Pak said that Armenia has the biggest amount of imports from Iran after from Russia and China, adding that currently Iran’s exports to Armenia stand at $437m and according to the plans of both countries, the amount is to hit $3b.

He then pointed to the good political relations between Iran and Armenia and determination of both states for improving the trade and finalizing the free trade agreement with EAEU, adding that Armenia is the only EAEU member which has borders with Iran and it can play the role of gateway between Iran and EAEU market.

Peyman-Pak further said that capabilities of Iran in the fields of technical and engineering services and capacities of Iranian companies for presence in the technical and engineering services of Armenia are good opportunity for presence of activists of those fields in Armenia.

He said exchange of gas and electricity, presence of Iranian automakers in Armenia, producing industrial products especially Iranian home appliances inside Armenia as joint production, holding different exhibitions and construction of refinery are of the joint programs of Iran and Armenia.

Peyman-Pak also pointed to the launch of Iran’s trade center in Yerevan and said that the center in Yerevan is very active and dynamic. He added that the most important factor that they seek in the trade centers is a powerful and big partner in the target country that Armenia has this condition.

He then pointed to the issue of industrial participations and emphasized that the issue of the free zone, joint industrial parks and the issue of creating production lines in Armenia with using capacities of Armenia can help both countries to broaden their trade.

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In a meeting in Tehran, Iranian Health Minister Bahram Einollahi and Armenian Health Minister Anahit Avanesyan discussed ways to expand ties in areas related to health.

On the sidelines of the meeting that was held on January 22, Einollahi said relations between Iran and Armenia have a long cultural and historical background.

In order to develop bilateral relations between the Islamic Republic of Iran and the Republic of Armenia in the field of health, an executive working group consisting of managers and experts from the two countries will be formed to examine the fields of cooperation and prepare the ground, he added.

“Medicine, medical equipment, medical education, and healthcare, especially in the field of health tourism, as well as the exchange of professors and students, are the most important areas of cooperation between the Islamic Republic of Iran and the Republic of Armenia.”

He welcomed a proposal made by the Armenian official to launch an exhibition of Iran’s achievements in medicine, medical equipment, and medical sciences in Armenia.

Avanesyan, for her part, while emphasizing the need for the development of cooperation between the Islamic Republic of Iran and the Republic of Armenia in the field of health, said Armenia welcomes holding Iranian exhibitions in the field of health.

In January last year, the Iranian Ambassador to Armenia, Abbas Badakhshan Zohouri, met with Avanesyan to discuss cooperation in the health sector.

Pointing to the importance of promoting mutual understanding between the two countries, especially the existing capabilities in the production of medicine and medical equipment, Zohouri highlighted expanding bilateral partnership in the field of health and treatment, ISNA reported.

“The big potential of the Armenian-Iranian partnership in pharmaceutics is obvious. We constantly consider the opportunities to mutually engage the Iranian-made medicine into the Armenian market,” Avanesyan said.

Investment programs, development of healthcare tourism and regional cooperation in the health sector, educational programs, and exchange of experience were discussed during the meeting.

On the sidelines of the Shanghai Cooperation Organization (SCO) which was held in Uzbekistan on September 15-16, 2022, President Ebrahim Raisi signed an agreement with the countries of the Caspian Sea region, according to which the member countries will cooperate with each other in the field of health.

One of the successful aspects of health diplomacy in the region is this cooperation, he said, adding, “We are looking to implement this program in the region as in European countries to facilitate the exchange of students and professors, and to facilitate their participation in international conferences.”

Four countries, including Armenia, signed memorandums of understanding, announcing their readiness for buying Iranian-made medical equipment at the 4th National and the 15th International Reverse Expo, which was held in Tehran on December 10-13, 2022.

Representatives from Uzbekistan, Armenia, Turkey, and Bosnia signed 40 memorandums of understanding with Iranian knowledge-based companies during the 3-day event.

In June 2021, Ahmed al-Mandhari, the World Health Organization director for Eastern Mediterranean Region, said the Islamic Republic of Iran is a role model for primary health care.

For the past four decades, its PHC network has aimed to ensure that people have timely access to affordable, accessible, and acceptable essential health services, he explained.

The national budget bill for the next Iranian calendar year 1402, which starts on March 21, has increased the health sector’s budget by 29 percent compared to the current year’s budget.

The bill has proposed a budget of 2,730 trillion rials (about $6.8 billion) for the Ministry of Health.

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The development of trade relations, alternative ways of transit, barter trade, the establishment of an Iranian car production line in Armenia, and the establishment of a joint production line of household and electronic appliances were among the subjects discussed at the meeting.

During the talks, Peyman-Pak expressed the readiness of Iranian contractors and companies to participate in Armenia’s transportation projects and called on the Armenian side to reconsider some of the regulations regarding taxes and transit tolls.

“Forming a working group to review the issue of transit tolls in Armenia will be a useful and forward-looking measure in the development of trade relations between the two countries,” the TPO head suggested.

Welcoming the presence of Iranian companies in the road construction projects of Armenia, Teryan for his part said: “From Armenia’s point of view, revising the tax and toll regulations is a very important issue; Our experts conducted many studies in this regard the result of which will have a great impact on the development of trade relations between the two countries.”

He further pointed to the establishment of a barter trade mechanism between the two sides, saying: “We had long negotiations regarding the barter trade between the two countries, which is now bearing fruit, and we are very happy that the two countries have identified their brokerage companies for establishing the barter trade mechanism.”

Elsewhere in his remarks, Teryan offered that a delegation of Iranian home appliance and electronic manufacturers be sent to Armenia to discuss establishing joint production lines with their Armenian counterparts.

In the meeting, Peyman-Pak also mentioned the interest of one of the Iranian car manufacturers in establishing a production line in Armenia and said: “Considering Armenia’s membership in the Eurasian Union, this action can have good achievements for both countries.”

The Armenian deputy minister also welcomed the idea of collaboration in car manufacturing and said: “We are ready to cooperate with the Iranian company in the matters such as infrastructure and provision of suitable land and we suggest that a delegation from this company visits Armenia to make the necessary preparations for this project.”

A large business delegation from Iran is due to leave for Armenia in mid-October concurrent with the opening of the Islamic Republic of Iran Business Center in Yerevan, Peyman-Pak finally announced.

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The workgroup for joint technical and economic cooperation of Iran and Armenia was in Tehran in presence of Payman-Pak and Armenian deputy economy minister.

In the meeting, Payman-Pak said that both sides reached agreement in the field of production and distribution of construction materials and food stuff chains, adding that both sides worked on resolving their banking problem and Mellat Bank of Iran is in talks to finalize the deal.

Pointing to cooperation in mineral sector between Iran and Armenia, he said that an Iranian company is purchaser of Armenia’s concentrate as the two countries can cooperate and invest in the issue of exploration of mineral resources.

He reiterated that road construction and tunnel construction is very important for the two countries and Armenian economy minister have visited some sample works of Iranian companies and Iran is keen to be present in the road construction field in Armenia because it provides Iran’s access to northern countries and will replace Azerbaijan route.

Payman-Pak went on to say that the trade volume between Iran and Armenia is on the rise and called for revising the road tariffs for broadening ties.

He noted that Iran has been unsuccessful in barter trade with Armenia, adding that Iran has done a good job in barter trade with Turkey, Russia, India and China and it has barter trade with them worth of $1.5b.

Then Armenia’s deputy economy minister said that the trade volume between Iran and Armenia in the first half of 2022 has grown by 0.3%, adding that the trade between the two countries has reached $245m and expressed it to grow more.

He also called for cooperation between Iran and Armenia in the field of pharmaceutical, noting that Armenia can export its home-made medicines to Iran.

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Speaking on Saturday among a number of members of the Board of Directors of Tehran Securities and Exchange Organization (SEO) who traveled to the Armenian capital of Yerevan for participating in the Federation of Euro-Asian Stock Exchange (FEAS) Summit, Abbas Zohouri Ambassador of the Islamic Republic of Iran to Armenia said that the two countries enjoy high capacities and potentials to boost their bilateral trade.

He described the level of trade and business ties between Iran and Armenia as‘ increasing and satisfactory’ and stated that bilateral trade between the two countries could reach from the current $400 million to $1 billion annually in the very near future since the two countries enjoy high potentials on the relevant issues.

Elsewhere in his remarks, Abbas Badakhshan Zohouri pointed to two free economic zones in Iran and Armenia and called on investors of the two countries to take advantage of the capacity created in Aras and Meghri free zones in line with boosting bilateral trade and business activities.

According to the report, the Iranian delegation, headed by Saeed Eslami Bidgoli Secretary-General at the Iranian Institutional Investors Association, travelled to Armenia to attend the Federation of Euro-Asian Stock Exchanges (FEAS) Summit which will be held in Armenia.

During the meeting, Eslami Bidgoli put the current number of foreign economic activists at Iran Stock Exchange Market with a shareholding code at 6,100 and stated that Armenian traders and merchants, like investors of other countries, can invest at Iran Mercantile Exchange and benefit from its advantages.

Meanwhile Head of Iran-Armenia Joint Chamber of Commerce and Industry has said the two countries plan to establish a joint industrial park in the near future.

Hervik Yarijanian said the two sides also have the potential to cooperate in other fields like banking, finance, agriculture, and extraterrestrial farming.

“We are negotiating with Armenian authorities to provide the necessary basis for the two sides’ businessmen to be able to invest and produce goods together with the aim of gaining access to more distant markets such as Europe and Canada,” he said.

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Head of Iran Chamber of Commerce, Industry, Mine and Agriculture (ICCIMA) Gholamhossein Shafei on Tuesday met visiting Armenian Deputy Minister of Economy Varos Simonyan where the both sides on boosting bilateral cooperation in the field of joint investment.

During the meeting, Shafei pointed to the amicable ties between Iran and Armenia and said this relation is in good level as the two countries enjoy a good and long co-existence. He went on to say that Armenia enjoys excellent economic growth in the Central Asian and Caucasus region and private sector in Armenia has developed with considerable face and this country’s economy has progressed fabulously in recent years.

Turning to the status and specifications of Armenian economy, Shafei said that economy in Armenia is based on free economy and this issue has caused the country to enjoy considerable economic growth.

Armenia has an influential presence in Eurasian Economic Union (EAEU), he said, adding that Armenia is the only country in the Union that shares joint border with the Islamic Republic of Iran and therefore, economic relations with Armenia enjoy a unique opportunity.

Shafei noted that although Iran and Armenia have a close and long all-out relations but their economic relations have not progressed like their political ties and they should improve their economic relations along with their political ties.

Elsewhere in his remarks, chairman of ICCIMA pointed to the sanctions imposed against Iran and said that the volume of trade between Iran and Armenia will expand after sanctions imposed on Iran are lifted and consequently, trade and business relations between the two countries will be developed considerably.

Cooperating in the bartering method can be a proper strategy for overcoming oppressive U.S. sanctions, he added.

Shafei noted that there are various capacities for bilateral cooperation like in the mining sector, husbandry and agro sectors. He added that the both sides can work together in the copper and gold sectors as well as in the fields of textile, apparel, construction, technical and engineering sectors.

He reiterated that Armenian government’s policy of giving incentives for investment is considerable and it helps bilateral cooperation. He went on to say that the Iran-Armenia Joint Chamber of Commerce is one of the most active chambers and it can help the grounds to be prepared for bilateral cooperation, adding that he welcomes expansion of economic cooperation with Armenia.

Armenia’s Deputy Minister of Economy, for his turn, said that Armenia attaches great importance to its relations with the Islamic Republic of Iran in all fields and t its positive stand in the region and considers Iran a friendly country in bilateral cooperation.

Simonyan went on to say that Armenia has nowadays tried to identify and resolve the problems in way of cooperation, adding that before any cooperation, the infrastructures should be improved, adding that Armenia after gaining its independence joined the WTO although it was not so easy.

Armenia is the only country in EAEU which shares joint land border with the Islamic Republic of Iran in a way that Armenia can pave suitable ways for the Islamic Republic of Iran to get access to lucrative market of Eurasian Economic Union, he added.

He reiterated that Armenia have repeatedly said that it is ready to cooperate with Iran for this country’s arrival into the 200-million-people EAEU market.

He noted that likely the sanctions is the major hurdle in way of Iran-Armenia trade ties and by its removal, major part of woes in trade between the two countries will be resolved and they can develop their trade exchange.

He added that dispatch of trade delegation is on the agenda of Armenia’s Chamber of Commerce and the delegation will also confer on the cooperation in the field of economy.

Simonyan blasted the economic sanctions which makes competition unfair and Armenia loses its chance of competition for ties with its neighbors and it suffers.

Then Shafei said that bartering trade is the proper solution and way for overcoming the cruel sanctions.

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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.

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In the meeting, Khansari in the meeting referred to the agreement signed between Iran and Eurasian Economic Union (EAEU) and termed Armenia as the only EAEU member having joint land border with Iran, and added that developing the economic relations between the two states is a long stride for presence of Iran and Armenia in the third markets.

He also said the current trade level between the two states are not in accordance with the old background of the political and economic exchanges between the two sides, and called it necessary to resolve some problems in the field of regulations and adjusting customs regulations suiting the two countries’ trade relations.

Khansari pointed to creating the special desk of some countries at Tehran’s Chamber and announced the launch of the special desk for Armenia at the Tehran Chamber through cooperation between the joint chamber of commerce of the two countries in the near future. He also pointed to some existing problems in way of expanding the level of trade cooperation between the two states and termed a problem the absence of Armenia in the international TIR Convention and lack of digitalized Customs process between the two states and called it one of the major challenges and also criticized the process of registration of the prices of the commodities at the Armenia Customs office.

Meanwhile Hovhannisyan, for his part, termed his recent visit to Tehran in line with identifying problems and hurdles existing in way of increasing the trade of the two states, adding that in recent days he has had meetings with Iranian officials and had talks with them to remove the hurdles.

He went on to say that the two countries have enough capacities to expand trade ties and stipulated that Armenia’s State Revenue Committee is ready to cooperate with Tehran’s Chamber of Commerce for broadening the economic relations between the two states.

He also termed the conference on reviewing the opportunities for developing cooperation between Iran and Armenia as the first and serious step on course to expanding economic ties between the two states, reiterating that state and private sectors in Armenia welcome any action in line with improving the trade ties.

The Armenian-Iranian business forum was held in Tehran with the support of the Armenian Embassy. The conference was organized in the Chamber of Commerce of Iran within the framework of the working visit of Hovhannisyan to the Islamic Republic of Iran.

Prior to the conference, a private conversation took place between SRC Chairman Edward Hovhannisyan and Chairman of the Iranian Chamber of Commerce Gholam-Hossein Shafe’i. The parties attached importance to the cooperation between the businessmen of the two countries and highlighted the huge potential for development.

During the conference, the businessmen discussed the new changes in the spheres of tax, customs legislation and administration of Armenia. The SRC representatives briefed the Iranian colleagues on the reforms implemented in recent years, which have had a significant impact on the development of trade and economic relations between the two countries.

Hovhannisyan expressed readiness to organize regular consultations with representatives of the business sector in order to discuss the existing problems and search for ways to solve them.

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