Iran and Armenia agree to boost their relations

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Economy

28.01.2010, 03:47

Iran and Armenia have agreed today to boost their relations. After the 9th session of the intergovernmental commission for economic cooperation, held in Yerevan, the sides.

YEREVAN, January 27, /ARKA/. Iran and Armenia have agreed today to boost their relations. After the 9th session of the intergovernmental commission for economic cooperation, held in Yerevan, the sides

signed two memoranda, one on enhancing economic ties and the second on cooperation between Armenian Development Agency (ADA) and Iran’s Organization for Investment, Economic and Technical Promotion. The second memorandum envisages establishment of a bilateral investment committee.

The Armenian cochairman of the commission, energy and natural resources minister Armen Movsisyan, said the sides discussed a wide scope of issues.

‘Armenian-Iranian cooperation embraces economy, culture and other sectors and we have to work hard to materialize all planned projects,’ he said.

The Iranian cochairman, foreign minister Manoucher Mottaki, said the presidents of both countries have serious intentions to foster cooperation, while the public and private sectors are ready to implement the strategy developed by the presidents.

Armenian-Iranian trade in the first months of 2009 fell by 35% from a year before to $138 million. Armenian exports to Iran dropped by 30% to $17 million while imports from Iran plunged by 35% to $121 million. -0-

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