Iran, Armenia targeting for $1bn worth of mutual investment

TEHRAN, May 25 (MNA) – Islamic Republic of Iran and Republic of Armenia are targeting for $1 billion worth of bilateral trade annually.

Iranian Minister of Roads and Urban Development revealed the signing and sealing of a Memorandum of Understanding (MoU) between Iran and Armenia for the removal of goods transit barriers.

By expanding cooperation and promoting level of investment to $1 billion, Islamic Republic of Iran can immediately be turned into a trading partner of Armenia.

Iranian Minister of Roads and Urban Development Mohammad Eslami made the remarks in his meeting with Armenian Minister of Economy Vahan Kerobyan in Yerevan on Monday.

During the meeting, agreements were made between the two countries of Iran and Armenia in the field of transport.

The motive of Iranian government is to develop cooperation and promote level of trade exchanges between the two countries, he said, adding, “An agreement has been reached with Armenian government to immediately remove transit barriers and increase quality of bilateral trade ties.”

Elsewhere in his remarks, the Iranian minister pointed to the expansion of cooperation in the field of investment between the two countries and stated, “Capacity building was agreed between the two countries of Iran and Armenia to expand cooperation in the field of investment in Mogri Free Zone.”

With the expansion of cooperation and promotion of level of investment to $1 billion, Islamic Republic of Iran can be turned into a trade partner of Armenia, Roads Minister Eslami reiterated.

MA/IRN84341584

News Code 173909

Tags

Your Comment

You are replying to: .
  • 7 + 7 =