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.
Armenian News
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