Armenia will appoint a Trade Attaché to Iran. The Armenian government adopted a relevant decision today.

The establishment of an Armenian trade attaché in Iran will allow to more effectively represent the economic interests of the Republic of Armenia in various spheres related to economic cooperation, to facilitate the implementation of trade and economic cooperation by Armenian-Iranian economic entities, as well as to support the activation of business initiatives between the two countries.

The creation of a post of trade attaché will enable him to receive more operative information on the economic situation in Iran, the legislation regulating the sphere of foreign economic activity, as well as to provide similar information about Armenia to the interested bodies of Iran.

One of the main responsibilities of the trade attaché is to participate in business forums organized on the ground, to present the business environment in Armenia, to provide relevant information to Iranian entrepreneurs interested in investing in Armenia, to companies, etc.

According to the RA Statistical Committee, Armenia’s trade turnover with Iran in 2020 amounted to $ 400.2 million. Exports from Armenia to Iran amounted to $ 84.8 million, and imports from Iran to Armenia amounted to $315.4 million.

The issues of establishing a joint ventures or branches of Iranian companies in Armenia are currently being discussed by both sides.

In these processes, it is important to eliminate transport barriers and take joint steps to facilitate financial transfers.