7th Meeting of Iranian-Armenian Commission on Economic Development

Business Materials 20 July 2007 18:01 (UTC +04:00)

Azerbaijan, Baku / Trend / Manuchohr Mottakki, the Iranian Foreign Minister, spoke about joint plans of Armenia and Iran during the 7th meeting of the Iranian-Armenian on economic development in Yerevan on 20th of July. .

The Iranian Foreign Minister voiced his confidence in the further development of Iranian-Armenian relations.

Mottakki noted that agreements have been finalized in the realms of economy, energy, and transport and the issues regarding the establishment of a free trade market are being coordinated.

'Today we witness the implementation of a plan on gas transportation to Armenia, the delivery of 60,000 transit cars via the territory of Armenia a year, transit use of each other's territory, establishment of advanced technologies in agriculture and communications, public and political developments, and signing of contracts for Iranian students to study in Armenia. Our key objectives include the establishment of the Araz electricity station, construction of railways, establishment of the Russian-Iranian-Armenian oil refinery plants, and establishment of an Iranian shopping centre," Mottakki stressed.

Mottakki added that the amount of goods turnover between the two countries comprised $180bln in 2005. The figure reached $200bln in 2006. Some $40mln of the total falls to Armenia and $160mln to Iran.