Azerbaijan, Baku, Dec. 25 / Trend F.Milad/
Iran and Armenia have called for boosting the two-way annual trade to $1 billion, Iran's Foreign Minister Ali-Akbar Salehi said.
The two sides are preparing the ground for signing a free trade agreement, which will give a boost to their bilateral economic and trade ties, Salehi added, the IRNA news agency reported.
Iranian President Mahmoud Ahmadinejad and his Armenian counterpart Serzh Sargsyan signed five cooperation agreements and memorandums of understanding in Yerevan on Friday to boost economic ties.
Building and operating hydroelectric power plants on Aras River which runs along the two countries' border, cooperation between national standards institutes of the two sides, cooperation in the social welfare sector, and cooperation in the field of environment protection were among the agreements.
Trade turnover between Tehran and Yerevan has been increasing, from $206 million (157 million euros) in 2009 to $273 million (209 million euros) last year.
Iran, Armenia eye $1 billion annual trade
Iran and Armenia have called for boosting the two-way annual trade to $1 billion, Iran’s Foreign Minister Ali-Akbar Salehi said.