Oct 1, 2019, 1:06 PM
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News Code: 83498731
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President Rouhani backs barter trade with Armenia

Tehran, Oct 1, IRNA – Iranian President Hassan Rouhani said on Tuesday that Iran is willing to develop barter trade with Armenia including exchange of gas and electricity with the neighboring country.

Barter trade of gas and electricity between Tehran and Yerevan will be extended to goods and services, President Rouhani said in a meeting with Armenian Prime Minister Nikol Pashinyan.

Iranian president, at the invitation of the Armenian premier, arrived in Yerevan late on Monday to take part in the Eurasian Economic Union (EAEU) summit slated for October 1.

Elsewhere in his remarks, President Rouhani said that Iran and Armenia have agreed to working on important projects to develop economic cooperation.

The president said that Iran would offer advanced know-how to the Armenian Republic on the areas of engineering service, modern technologies, communications, transportation, power plants and energy as the appropriate grounds for constructive relations.

He said that cooperating on North-South Transport Corridor to connect the Black Sea and the Persian Gulf region in southern Iran will lead to a leap in economic cooperation to the benefit of other regional states.

About the Eurasia Economic Union, Rouhani said Iran will take the first step to have activity in the Union till the next month.

According to eaeunion website, the Eurasian Economic Union is an international organization for regional economic integration. It has international legal personality and is established by the Treaty on the Eurasian Economic Union.

The EAEU provides for free movement of goods, services, capital and labor, pursues coordinated, harmonized and single policy in the sectors determined by the Treaty and international agreements within the Union.

The Member States of the Eurasian Economic Union are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic and the Russian Federation.

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