Tehran, Yerevan discuss areas of economic cooperation

Head of Iran’s Trade Promotion Organization (TPO) Alireza Peyman-Pak on Sunday hosted a meeting with Armenia’s Deputy Economy Minister Narek Teryan in which the officials talked about a variety of areas for economic cooperation between the two countries.

The development of trade relations, alternative ways of transit, barter trade, the establishment of an Iranian car production line in Armenia, and the establishment of a joint production line of household and electronic appliances were among the subjects discussed at the meeting.

During the talks, Peyman-Pak expressed the readiness of Iranian contractors and companies to participate in Armenia’s transportation projects and called on the Armenian side to reconsider some of the regulations regarding taxes and transit tolls.

“Forming a working group to review the issue of transit tolls in Armenia will be a useful and forward-looking measure in the development of trade relations between the two countries,” the TPO head suggested.

Welcoming the presence of Iranian companies in the road construction projects of Armenia, Teryan for his part said: “From Armenia's point of view, revising the tax and toll regulations is a very important issue; Our experts conducted many studies in this regard the result of which will have a great impact on the development of trade relations between the two countries.”

He further pointed to the establishment of a barter trade mechanism between the two sides, saying: “We had long negotiations regarding the barter trade between the two countries, which is now bearing fruit, and we are very happy that the two countries have identified their brokerage companies for establishing the barter trade mechanism.”

Elsewhere in his remarks, Teryan offered that a delegation of Iranian home appliance and electronic manufacturers be sent to Armenia to discuss establishing joint production lines with their Armenian counterparts.

In the meeting, Peyman-Pak also mentioned the interest of one of the Iranian car manufacturers in establishing a production line in Armenia and said: “Considering Armenia's membership in the Eurasian Union, this action can have good achievements for both countries.”

The Armenian deputy minister also welcomed the idea of collaboration in car manufacturing and said: “We are ready to cooperate with the Iranian company in the matters such as infrastructure and provision of suitable land and we suggest that a delegation from this company visits Armenia to make the necessary preparations for this project.”

A large business delegation from Iran is due to leave for Armenia in mid-October concurrent with the opening of the Islamic Republic of Iran Business Center in Yerevan, Peyman-Pak finally announced.

Source: Tehran Times