Yerevan (IP) - Iran's Minister of Industry, Mine and Trade announced an agreement with Armenian officials to reduce tariffs on truck traffic in the two countries, as well as joint production of medicine and home appliances.

Iran PressAsia: Iran's Minister of Industry, Mine and Trade arrived in the Armenian capital,Yerevan, on Thursday. He was accompanied with the head of the Trade Development Organization and a group of economic activists to pursue Memoranda of Understanding (MoUs) and conclude trade agreements.

According to Iran Press, speaking on the sidelines of a meeting with the Armenian Minister of Economy on Friday evening, Reza Fatemi Amin, Iran's Minister of Industry, Mine and Trade, said: "We had agreements with Armenian authorities that Iranian companies active in the field of medicine and home appliances export technology, raw materials or parts to Armenia, to produce a joint product in Armenia and export it to other countries."

Fatemi Amin added: "In the two days that we traveled to Armenia, we also had effective meetings with the officials of this country so that Iranian and Armenian companies could have joint activities in the field of production, transit, marketing and sales."

The Iranian Minister of Industry, Mines and Trade also stated that Iran had two agreements with Armenia regarding the transportation and transit of goods, one of which was to reduce the transit tariff for trucks in both countries in the short term and based on the amount in the long run; Iranian companies were also involved in completing road infrastructure in Armenia.

Iran and Armenia have many similarities due to the long-standing relations between the two countries; this positive background has been influential in various aspects of relations between the two countries, and for this reason, Armenia has a good position in relations with Iran among neighboring countries.


Read More:

Iran's exports to Armenia see 20-percent increase

Iranian minister's visit to Armenia, expansion of bilateral trade cooperation