Iran, Armenia to exchange trade with local currencies ‘likely’

TEHRAN, Jul. 16 (MNA) – Chairman of Iran-Armenia Joint Chamber of Commerce Hervik Yarijanian said that the two countries will exchange trade activities with each other using local currencies ‘likely’.

“We are following up necessary measures to do business with hard currencies of the two countries i.e. rials and drums, so that proposal of setting up a finance and credit institution beyond banking rules has been submitted to the Islamic Republic of Iran.”

He made the remarks in a press briefing on Tuesday and said, “in a recent meeting with Armenian President Armen Sarkissian on economic ties between the two countries of Iran and Armenia, he [President] said that Armenia attaches great importance to its relationship with the Islamic Republic of Iran and intends to increase mutual investment between the two countries.”

Dispatching trade and business delegations, setting up exhibitions and taking maximum advantage of potentials and capacities of the two countries are of salient programs, he highlighted.

Turning to the banking ties between the two countries, he added, “we are after doing trade and business with local currencies of the two countries i.e. rials and drums.”

Turning to Mogri Free Economic Zone, he added, “this Zone has not yet been activated. With the activation of this Zone in the vicinity of Iranian borders, we can connect factories and service systems to Eurasian Economic Union (EEU) system.”

With the coordination made, a 100-member Iranian trade and economic delegation will be dispatched to Armenia next month, Yarijanian added.

Chairman of Iran-Armenia Joint Chamber of Commerce put the total trade volume of the two countries at $300 million and added, “energy is the major field of cooperation between Iran and Armenia.”

MA/IRN83398269

News Code 147717

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