News

Armenia’s Prime Minister Tigran Sargsyan’s visit to Iran Monday (October
25) is expected to include the signing of a Free Trade Agreement (FTA)
between the two countries.

At a recent visit to Yerevan by Iran’s Commerce Minister Mehdi
Ghazanfari, meetings were held with Armenian Economy Minister Nerses
Yeritsyan, during which the ministers discussed ways to improve and
expand trade between the neighbors.

A draft of the FTA has been under consideration between the two republics since August 2009.

Armenia’s current trade value (determined according by ratio of imports
and exports) is $3 billion, from which trade with Iran represents $300
million. Bilateral trade between Iran and Armenia was $45 million during
the first quarter of this year, of which $31 million was in exports to
Armenia by Iran.