Iran - Armenia annual trade turnover to be increased

On October 25, Armenia’s PM Tigran Sarkisian met with the First Deputy of the Iranian President, Muhamed Mozarahid. During the meeting it was highlighted that the potential for economic relations between the two countries is much bigger than at present and that trade turnover between the two nations should be increased by up to USD 1 bln in the coming year. Currently, Armenia and Iran are jointly carrying out some strategically important projects, namely the construction of an oil terminal, the building of railways connecting the two countries, erecting high voltage electricity transmitting masts and building a hydro electric power station on the river Araks. New programmes and projects should be elaborated and implemented, suggested the Armenian PM. As economic analyst, Tatul Manaserian noted, there are serious foundations being laid for establishing a free trade zone in the border town of Megri, which would benefit both sides eventually. According to Manaserian, Armenia does not have much choice as there are only two countries with which Armenia can cooperate: Iran and Georgia.