Foreign trade turnover of $700 million with Iran doesn’t suit Armenia: the goal is $1 billion - Papoyan

p

YEREVAN, September 30 /ARKA/. Armenia is not satisfied with the $700 million foreign trade turnover with Iran; the goal is to achieve a trade turnover of $1 billion with the prospect of increasing it to $3 billion stated Armenian Economy Minister Gevorg Papoyan.nbsp;br/pp

The foreign trade turnover between Armenia and Iran last year amounted to approximately $700 million. During this time, exports from Armenia to Iran amounted to almost $100 million, and imports - $600 million. These figures indicate the positive dynamics of relations between our countries. Important sectors such as agriculture, industrial products and the food industry already play a significant part in our trade, said Papoyan at the Third Eurasian Forum in Yerevan./pp

The Minister noted that an important event was the signing of a free trade agreement between Iran and the EAEU, which opens up opportunities for Armenia to expand the export of a number of products./pp

This is a very ambitious goal, but we are striving for it, and to achieve it we need to expand the range of goods and improve the logistics infrastructure. One of the priorities in this area is the creation of economic zones, which will facilitate the influx of new investments, the minister said.nbsp;/pp

In terms of trade turnover with Armenia in January-July 2024, Iran stands out ($388,828.0 thousand, a decline of 2%). At the same time, exports to Iran during the reporting period amounted to $63,167.0 thousand (an increase of 4.7%), and imports - $328,860.2 thousand (a decline of 3.8%). -0-nbsp;/p