Sep 23, 2018, 7:19 PM
News Code: 83041694
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Official: Transit ties to boost Iran-Armenia economic prospect

Tehran, Sept 23, IRNA - The head of Iran-Armenia Joint Chamber of Commerce and Industry said transit ties will help Iran-Armenia’s one-billion-dollar economic prospects.

Hervik Yarijanian told an Iran Daily reporter that the trade exchange volume between Iran and Armenia is 300 million dollars annually and Iran has a positive trade balance.

Referring to Iranian President Hassan Rouhani’s last visit to Armenia in 2016, the official said the presidents of the two countries seek to reach a one-billion-dollar trading volume by boosting their mutual cooperation.

Highlighting the role of transit, he said Armenia can help Iran export gas to Europe and merchandise to Eurasian countries; in turn, Iran will import their goods via the North-South Transport Corridor.

According to Yarijanian, economic ties are influenced by political relations and, fortunately, Iran and Armenia have developed an appropriate level of political ties; however, they need to seize the opportunity to further strengthen their relations.

The two countries’ trade volume did not have any rise in the current year, in the wake of the Armenian Velvet Revolution in April, which ceased the country’s economic institutions’ operation on one hand, and the US withdrawal from the Iran nuclear deal in May, which led to the reimposition of sanctions on Iran, on the other.

In the domain of energy, Armenia currently exports electricity to Iran in the summer, and in turn imports gas in the winter, in addition to tiles, steel industry raw materials, steel sheets, UPVC/PVC profile products and panels, detergents, rice, macaroni and sugar.

Calling for stability on the part of key decision makers, the official criticized the Iranian government’s insecure import policies which troubles Armenian producers' investment plans.

He touched upon Armenia’s approach towards the US sanctions against Iran, saying that his country is eager to expand economic ties with a peaceful country like Iran.

To solve financial transactions, we can establish a bank or a financial institution, like China’s Kunlun Bank, to transfer money between Iran, Armenia and Eurasian countries, Yarijanian suggested.

Source: Iran Daily

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