Iran's Non-Oil Exports to Armenia Surge by 62.5 percent: Strengthening Economic Ties

(MENAFN) In the past Iranian calendar year 1401, which ended on March 20, the value of Iran's non-oil exports to Armenia witnessed a remarkable increase of 62.5 percent compared to the previous year. The total worth of Iranian exports to Armenia in 1401 reached USD478 million, a significant surge from USD294 million in 1400.

Among the key commodities exported from Iran to Armenia during the past year were liquefied natural gas, iron and steel rods, bitumen, light oils and related products, unalloyed iron and steel products, bituminous mineral oils, floor coverings, liquid cream, linear alkylbenzene, and rebar.

During a meeting in Yerevan between Iranian Labor and Social Welfare Minister Solat Mortazavi and his Armenian counterpart Narek Makratchian in late February, both officials expressed their determination to utilize all available resources to expand economic ties between Tehran and Yerevan. They emphasized the goal of reaching a target of three billion dollars in annual trade between the two countries, highlighting that fostering comprehensive relations with Armenia remains a priority for the Islamic Republic of Iran.

Minister Mortazavi further emphasized that the Iranian government's primary approach is to advance economic diplomacy with neighboring countries, particularly in the Caucasus region. He stated that Iran and Armenia are seeking to diversify their interactions in the economic, commercial, and investment sectors. Additionally, Mortazavi reiterated Iran's readiness to utilize its resources and capacities to contribute to establishing peace and stability in the Caucasus region.



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