Iran, Armenia eye $3bn trade boost
Tehran opposed to any geopolitical changes in region
By Ara Shaverdian
MP representing Armenians of Tehran, Northern Iran
President Masoud Pezeshkian has placed stronger trade and economic ties with Armenia high on his agenda. Since taking office a year ago, his administration has made expanding relations with neighbors a central priority of foreign policy, and major steps have already been taken in this regard.
The two neighbors have set their sights on raising bilateral trade from $1 billion to $3 billion, a goal that continues to be actively pursued.
The president’s visit to Armenia later today comes at a crucial and sensitive moment, given the latest developments in Yerevan. The trip carries considerable weight, with expectations that memorandums of understanding—particularly in economic cooperation and cross-border trade—will be signed. The aim is to push up trade volumes to $3 billion.
Armenia is a permanent member of the Eurasian Economic Union, while Iran has been an observer since August last year. Since then, several high-level meetings, attended by the Iranian first vice president, have emphasized stronger economic cooperation. The president’s upcoming visit to Yerevan is clearly a continuation of these economic agreements.
At present, a road linking the Norduz border crossing to northern Armenia is being built with the participation of Iranian contractors. The involvement of Iranian specialists in Armenia’s infrastructure projects underlines Yerevan’s willingness to bring Iran into its development plans.
Numerous agreements have already been struck between the private sectors, business leaders, and investors of both countries, spanning customs development, transportation, school construction, and more. Both governments have stressed the importance of keeping this process on track, and hopes are high that it will go on.
The Armenian government has repeatedly expressed its interest in welcoming Iranian businesspeople and investors. In this context, Iranian companies can maintain an active presence in Armenia and neighboring countries, free from the burden of cruel sanctions imposed by the West and the United States.
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