The visit of Iranian Minister of Industry, Mine and Trade Reza Fatemi-Amin to Armenia is hailed as constructive. According to the Embassy of Iran in Armenia, joint ventures will be launched by Teheran and Yerevan.
Renza Fatemi said that Iran would import raw materials or parts, which were the basis of pharmaceutical products and home appliances to Armenia. Armenia will make the joint products and export them to other county.
Expanding bilateral trade via joint investments was the aim of the visit. As Reza Fatemi-Amin said in Yerevan, the focus of the visit was deepening ties between Iran and Armenia via joint ventures.
He also said that the meeting with Armenian officials was helpful and facilitating bilateral trade between the two neighbors. The Iranian minister of Industry, Trade and Mine said that this two-day visit had helped to pave the way for the joint activities of Iranian and Armenian companies in trade transit, marketing and sales activities.
The Iranian delegation was accompanied by dozens of Iranian private companies’ CEOs during the visit to Armenia.
Fatemi-Amin said that launching of infrastructure projects in Armenia had been agreed.
According to the Iranian Minister of Industry, Mine and Trade, preliminary agreements on a range of issues such as building dams and roads in Armenia by Iranian companies were made during the meetings with Armenian Minister of Economy Vahan Kerobyan and Minister of Territorial Administration and Infrastructure Gnel Sanosyan and the Armenia deputy PM. He also added that they had agreed on building a transit road to complete the infrastructure projects in Armenia in the long run. He noted that Iranian companies would take part in relevant tenders.
Readiness of Tran to cooperate with Armenia in the construction of a new transport route (Kajaran – Sisian road) was announced by the Embassy. This road comes as part of Iran’s bid to launch the North – South Transport Corridor and is part of Iran – Armenia- Georgia Transportation Corridor. A 7200 km long multi-mode network of ship, rail and road routes for moving freight between Iran, India, Afghanistan, Azerbaijan, Russia, Armenia, Central Asia and Europe is called the International North-South Transport Corridor. Its aim is to boost trade connections between regional and ultra-regional states.
An important part of the joint effort to boost bilateral trade was the agreement between Iranian and Armenian officials on cutting transit tariffs.
Reza Fatemi-Amin said that they had had two short-term and long-term agreements with Armenia concerning transit of goods.