I ran and Armenia traded 1.09 million tons of commodities worth $264 million during the first nine months of the current Iranian year (March 20, 2020-Jan. 19), registering a 29% decline in value compared with the similar period of last year, according to the co-chair of Iran-Armenia Chamber of Commerce.

“Iran’s exports amounted to 1.08 million tons worth $251.63 million, registering a 26% year-on-year fall,” Hervik Yarijanian was also quoted as saying by Fars News Agency.

The official added that imports stood at 5,619 tons worth $12.36 million.

Noting that Iran has ample capacity to boost trade with Armenia, the official said, “Trade expansion with Armenia facilitates our presence in the markets of the Commonwealth of Independent States, the Eurasian Economic Union and Europe.”