Iran-Armenia trade volume hits $293m in 2013

 Iran’s commercial attaché in Armenia says the trade turnover between the two neighboring countries totaled USD 293 million in 2013.

Hamaiak Avadis Yanes said that Iran exported USD 198 million worth of goods to its northern neighbor in 2013 while Armenia sold USD 95 worth of commodities to the Islamic Republic.

Yanes said that the trade balance between the two countries also stood at positive 103 percent in 2013.

According to the Iranian official, Iran’s exports to Armenia mainly included bitumen, industrial oil, ammonium nitrate, soybean oil and oxides while Armenia’s main exports to Iran were aluminum and cast iron scraps.

He described Iran as a major trade partner for Armenia, which he said is a prime market for the Islamic Republic in the Caucasian region.

Iran and Armenia have taken major strides toward promoting their bilateral relations over the recent years, particularly in the economic sector.

In a meeting with visiting Armenian Deputy Foreign Minister Shavarsh Kocharyan in Tehran in December 2013, Iranian Foreign Minister Mohammad Javad Zarif hailed the “longstanding” and “friendly” relations between Iran and neighboring Armenia.

The administration of Iranian President Hassan Rouhani “attaches special significance to the expansion of ties with neighbors and we are willing to bolster these relations more than before,” said the top Iranian diplomat.

Zarif further said that Iran and Armenia enjoy great economic and commercial grounds for cooperation, which they need to tap into in order to boost bilateral ties.