Armenia, Iran plan to jointly sell goods to third countries

Armenia and Iran are teaming up to jointly sell goods to third countries.

The statement came from the Armenian Minister of Economy Vahan Kerobyan during the discussion of the draft state budget for 2023 in parliament, Caliber.Az reports, citing the Armenian media.

“We are focusing on those components of trade that have potential. In particular, using the transport and communication links of Armenia, Iranian goods, after certain processing in our country, are sent to the markets of the Eurasian Economic Union (EAEU) and other countries,” Kerobyan said.

According to him, the Armenian market is quite small for Iran. Therefore, both parties are taking steps to jointly sell goods. In addition, Armenia is working to make logistical routes through Iran accessible to Armenian carriers for the transportation of goods from Iran through the Caspian Sea to the countries of the EAEU and Central Asia.

The minister noted that in general, the trade turnover between Armenia and Iran in 2022 will reach $800 million. He stressed that negotiations are also underway to extend the free trade zone between Iran and the EAEU countries.

The main obstacle to trade is the banking system, which forces businessmen to look for alternative ways, according to him. There are also problems with exporting to Iran due to restrictions, Iran's economy is a "resistance economy" and they have little interest in importing goods.

Earlier this year, the trade turnover between Armenia and Iran increased by 43%. The goal was to bring the figure to $3 billion.