Iranian exports to Armenia may surge to $1 billion

YEREVAN, March 11. /ARKA/. Iran's exports to Armenia may soar from the current $300-$400 million  to $1 billion, according to Alireza Nazif, an Iran-Armenia Friendship Association Board of Directors member, Iranian news portal hamshahrionline.ir reported.

“Armenia is one of the main routes in the North-South corridor, and the new Iranian government is focusing on expanding relations with its neighbors. In this regard, we hope that our exports to this country next year will increase from today's $300-400 million,” he said, not ruling out that this figure may reach $1 billion.

According to Nazif, despite the problems created by  the coronavirus pandemic  and even the problems that have emerged after the 2020 war in Nagorno-Karabakh, the volume of trade between Iran and Armenia has not decreased, “and we hope that it will increase.”

He also noted that Armenia provides an exceptional opportunity to Iran, despite its small market as the country is at the crossroads of East and West, North and South.

According to official statistics, Armenia’s trade turnover with Iran in 2021 amounted to $502.8 million, an increase of 25.2% compared to 2020. Armenian exports to Iran amounted to $65.5 million, having decreased by 22.5%, and imports from Iran reached $438.9 million, having increased by 38.1%. -0-