Iran and Armenia to sign free trade agreement

Iran and Armenia will sign a free trade agreement (FTA) during the Armenian economy minister Nerses Yeritsyan’s upcoming visit to Tehran.

During the meeting held between Armenia’s Ambassador to Tehran Grigor Arakelyan and Iranian Commerce Minister Mehdi

Ghazanfari, the two sides discussed possible ways to boost bilateral trade cooperation.

Tehran presented the draft of free trade agreement to enhance the two-way transactions to Yerevan in August 2009.

Iran and Armenia’s bilateral trade value stood at $45 million during the first four months of current Iranian calendar year (started from 20 March 2010).

Tehran’s exports to Yerevan accounted for $31 million of the period.