Iran and Armenia will sign a free trade agreement (FTAs) during the Armenian economy minister's upcoming visit to Tehran.
During the meeting held between Armenia's Ambassador to Tehran Grigor Arakelian and Iranian Commerce Minister Mehdi Ghazanfari, the two sides discussed possible ways to boost bilateral trade cooperation, IRNA reported.
Tehran presented the draft of free trade agreement (FTA) to enhance the two-way transactions to Yerevan in August 2009.
Iran and Armenia's bilateral trade value stood at $45 million during the first four months of current Iranian calendar year (started March 20, 2010). Tehran's exports to Yerevan accounted for $31 million of the mentioned amount.