Iran’s private sector focusing on business opportunities of Armenia, Eurasia Union

Tehran, Nov 25, IRNA - Armenian ambassador to Tehran referred to Iran's accession to the Eurasian Regional Union, and said that businessmen and relevant government agencies in Iran should accelerate their efforts to seize the opportunity, and businessmen should not take a one-sided look at the trade treaty.

The Conference on Examination of Ways to Expand Relations between Iran and Armenia was held at the Tehran Chamber of Commerce with the ambassador of Armenia to Iran, the secretary-general of the Tehran Chamber, and officials from the Iranian Foreign Ministry and the Trade Development Organization in attendance. At the gathering, which was met with considerable enthusiasm by economic activists, the capacity of the Eurasian Union Agreement to develop trade between Iran and its member states was explored, as well as opportunities for cooperation with Armenia.

At the beginning of the conference, Hassamuddin Hallaj, the deputy head of the Tehran Chamber of International Affairs, described the Eurasia Agreement as a framework for enhancing the country's trade relations and said that this new opportunity for cooperation should be seized.

In another part of his remarks, he touched upon the state of trade between Iran and Armenia, saying that Armenia exported about $94 million to Iran in 2018, which accounts for only 4% of its total exports. Armenia also imports about $269 million from Iran, which means that it imports only 6% of its needed goods from Iran.

The deputy head of Tehran Chamber of Commerce, pointing out the significant presence of economic activists and members of the chamber in the conference, expressed hope that the Eurasia Agreement would help increase the flow of money between the two countries, Iran and Armenia, and during the conference solutions to some problems are provided to improve bilateral trade.

The chairman of the Iran-Armenia Joint Chamber of Commerce Hervik Yarjanian also noted that the signing of the Eurasian Agreement in the country's commercial space would make significant changes, adding that today, the word Eurasia has found it most beneficial in the relations of the international economy of Iran. The success we have had in regional trade arrangements in recent years needs to be fully exploited by learning from past experiences and taking into account the needs of the geopolitical and geoeconomic conditions of the region and the world, and in particular with private sector leadership, and maximum effort is made to develop our relations with the member- states of the Eurasian Union.

At the meeting, the head of the Caucasus Department of Foreign Affairs also announced talks between the two Iranian and Armenian governments on the construction of a highway north to south of Armenia, which he said would be effective in linking Iran with Russia and the North Caucasus.

Mohsen Foghani noted that one of the areas of economic cooperation between the two countries as technical and engineering services, adding that the export of gas from Iran to Armenia and receiving more electricity from it is one of the main axes of cooperation between the two countries.

He also stated that the creation of a green customs corridor between the two countries is a step in the development of economic cooperation between the two countries, adding that the establishment of financial exchanges with local currency and exchanges of goods are other opportunities that the two countries can take to expand economic relations.

Mirhadi Seyyedi, an adviser on international affairs and trade agreements at the WTO, said in his remarks referring to the Eurasia Agreement that it is expected that the signing of the agreement will have a positive impact on the development of economic relations. He further stated that economic interaction resolves confrontation, war and conflict and highlighted the mere formation of the Eurasian Union in the region can guarantee peace, security and beneficial interaction for its members, including Iran.

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