IRANIAN-ARMENIAN TRADE IN FIVE YEARS MAKES $700 MILLION
ARMENPRESS
May 13, 2008
YEREVAN, MAY 13, ARMENPRESS: A business forum was held today in Yerevan
at the initiative of Cavendish University of Iran and the Armenian
Development Agency (ADA). The goal was to look into opportunities for
establishment of a very favorable business and investment environment.
The focus in today’s discussions was on stepping up cooperation
between small and medium-sized companies of both countries, which
were said could cooperate successively in such areas as cattle
growing, production of building materials and veterinary medications,
introduction of automated systems and so on.
Another array of issues related to production of soap, ice-cream,
export and import of equipment for prospecting and production of oil
and natural gas was also discussed.
Valery Shabanov, an ADA director for foreign investments, described
Iranian-Armenian economic ties as ‘quite strong,’ saying also that
Iran is a good partner for Armenia. He said expectations are big that
Iranian businessmen will increase the volume of their investments
in Armenia. He said active dialogue between the two governments is
a serious support for it.
According to Valery Shabanov, Iranian-Armenian trade in the last
five years amounted to about $700 million, of which $111 million were
Armenian exports to Iran. Direct investments in the last three years
were $550,000.
"Both sides believe that there is the appropriate potential to
seriously increase the volume of bilateral economic cooperation," he
said, adding that Armenia is the world leader in terms of vehicles
with converted engines working on liquified gas. He said in this
sense the ADA suggests Armenia and Iran join to build a plant for
production of gas cylinders.
He also said both countries can seriously increase cooperation volumes
in such areas as chemical and food production and tourism. In this
sense he stressed the significance of Iran-Armenia gas pipeline and
construction of a hydro power plant on the river of Arax.
Hussein Tajbash, director of Cavendish University of Iran and head of
the Iranian delegation, thanked the ADA for providing consultations
to Iranian businessmen wishing to cooperate with Armenian counterparts.
He told the 20-member Iranian delegation that they can turn to the ADA
any time and the result will be successful cooperation with Armenian
businessmen. He also expressed hope that such gatherings of Armenian
and Iranian businessmen will be more coordinated.