Tehran Times , Iran
May 24 2009

Iran sees 10-fold rise in trade balance with Armenia
Tehran Times Economic Desk

TEHRAN ` A Trade Promotion Organization of Iran (TPOI) official here
on Saturday stated that Iran-Armenia trade balance has increased
ten-fold in favor of Iran during the ten-year period of March 1999 to
March 2009.

Abdolhamid Assadian, the TPOI’s bureau director for trade with
European and American countries, said that Iran-Armenia trade balance
was $11.8 million in March 1999 in favor of Iran, but the figure
surged to $119.61 million in March 2009, showing a nearly ten-fold
growth.

In 1999, Iran’s value of exports to Armenia stood at $37 million which
increased to $141.18 million in the Iranian calendar year ending in
March 2009, the official added, noting that Iran’s imports from
Armenia declined to $21.57 million in March 2009 from $25.2 million in
1999, according to the Mehr News Agency.

Establishment of a joint chamber of commerce, building Iranian stores
in Yerevan, establishment of the Iranian Trade Association, and
launching Bank Mellat branches in Yerevan were the main measures the
sides have taken to boost relations