Sep 18, 2019, 6:37 PM
Journalist ID: 2382
News Code: 83481281
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Iran, Armenia discuss mutual cooperation, implementation of MoUs

Moscow, Sept 18, IRNA - Iran's Ambassador to Yerevan and Armenian Minister of Labor and Social Affairs discussed bilateral relations and ways to implement memoranda of understanding (MoUs) signed between the two ministries.

During the meeting with Zaruhi Batoyandar, Kazem Sajjadi emphasized the need for developing and boosting interactions and sharing experiences in the fields of entrepreneurship between the Ministries of Labor and Social Affairs of the two countries, and stressed on the importance of developing cooperation and putting into practice the Memorandum of Understanding.

At the meeting, the Minister of Social Affairs of the Republic of Armenia welcomed the promotion and strengthening of mutual cooperation between the Ministries of Labor and Social Affairs, and announced readiness of the Armenian side to develop cooperation in order to implement the MoUs signed between the two countries, as well as the readiness to host an Iranian counterpart or a trip to Iran.

Armenia borders Turkey, Georgia, the Republic of Azerbaijan and Iran, with an area of ​​about 30,000 square kilometers and a population of three million in the Caucasus region that gained independence in 1991 after the Soviet collapse.

 Iran is just two months away from joining the Free Trade Zone with the five-member Eurasian Economic Union, that is, sixty days to prepare the necessary infrastructure to fully benefit from a nearly 200-million-strong market. 

Starting 28 October, Iran will formally be part of an initial Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU) that includes Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia. 

To prepare the ground for a smooth transition and entry to the EAEU, Iranian Energy Minister Reza Ardakanian flew to Russia to hold talks with corresponding Russian authorities. 

Iran has announced that it will sign the complete and final FTA with the Eurasian Economic Union and that after three years, nearly all goods and commodities will be subject to the rates stipulated in the deal, which is a significant reduction of tariffs.

The agreement means that Iranian producers and exporters will be able to export their goods under lesser tariffs, leaving a higher profit margin for them. 

Also, dollars will not be the prevailing currency, meaning more than 70 percent of all transactions will be carried out using the six countries' national currencies, the Russian ruble or euro. 

The Eurasian Economic Union (EAEU) is an economic union of states located in central and northern Asia and Eastern Europe. 


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