IRAN AND ARMENIA AGREE TO BOOST THEIR RELATIONS

ARKA
Jan 27, 2010

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.