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    Iran, Armenia ‘likely’ to exchange trade with local currencies

    July 17, 2019 11:24 News, Politics A+ / A-

    Iran, Armenia ‘likely’ to exchange trade with local currencies Iran and Armenia are likely to exchange trade with local currencies, said Chairman of Iran-Armenia Joint Chamber of Commerce Hervik Yarijanian.

    “We are following up necessary measures to do business with hard currencies of the two countries i.e. rials and drums, so that proposal of setting up a finance and credit institution beyond banking rules has been submitted to the Islamic Republic of Iran,” Mehr reported quoting the chairman.

    According to him, during the recent meeting with Armenian President Armen Sarkissian, the latter said that Armenia attaches great importance to the relations with Iran and intends to increase mutual investments between the two countries.

    Turning to Mogri Free Economic Zone, he added, “this Zone has not yet been activated. With the activation of this Zone in the vicinity of Iranian borders, we can connect factories and service systems to Eurasian Economic Union (EEU) system.”

    Yarijanian noted with the coordination made, a 100-member Iranian trade and economic delegation will be dispatched to Armenia next month.

    He put the total trade volume of the two countries at $300 million and added, “energy is the major field of cooperation between Iran and Armenia.”

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