News > Tehran in top five foreign partners of Yerevan (26 February 2019)

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Tehran in top five foreign partners of Yerevan (26 February 2019)

Iran was ranked among the top five in the list of Armenia’s main foreign trade partners in 2018, whereas it was the 6th in the list in 2018, wrote Armenian media on Tuesday.

"According to the data provided by the Armenian ministry of economic development and investments, 5301 companies with an Iranian capital, mainly individual entrepreneurs, are registered in Armenia as of January 1, 2019: this number comprises 36.6% of the total number of foreign companies registered in Armenia," wrote ArmenPress, adding, "The major companies with the Iranian capital in Armenia are representing the fields of IT, processing industry, construction and real estate, trade, agriculture, tourism and transport." 

It added, "Following Armenia’s independence, close, friendly relations have gradually been established with Iran in all areas. A productive cooperation has been set up in the fields of energy, transportation, nature protection, healthcare, agriculture, science, education, culture and inter-regional partnership."

"The diplomatic relations between Armenia and Iran have been established since the first days of the independence when on December 25, 1991 the Islamic Republic of Iran has officially recognized the independence of Armenia. A declaration on the establishment of diplomatic ties between Armenia and Iran has been signed in Tehran on February 9, 1992. On the same day the declaration on the principles and goals of the relations between Armenia and Iran has been signed according to which the sides were reaffirming their plan to establish friendly relations. The official opening ceremony of the Iranian Embassy in Yerevan was held in April 1992, and the opening of the Armenian Embassy in Tehran took place in December 1992." 

During this period nearly three dozen mutual visits have taken place between the two states at different levels, including the presidents, t added.

Since the establishment of diplomatic relations the two countries have implemented a number of programs in different directions. Those are the construction of a bridge on River Araks connecting Iran to Armenia in 1996, the thermal power plants at the Pushkin Pass in 2005, the Meghri-Shvanidzor-Tsav-Daravan road in October 2007. The opening of the first section of the Iran-Armenia gas pipeline took place in 2007. The construction of the second section completed in November 2008 and the sides are making efforts to record new achievements in the bilateral economic partnership, such as increasing the Iranian gas volumes supplied to Armenia, uniting the north-south (Iran, Armenia, Georgia, Russia) energy systems, construction of thermal power plants in Armenia with a 50MW total capacity, establishment of cooperation in the field of free economic zones and etc, ArmenPress wrote. 

Touching trade turnover, the media wrote that Armenia’s trade turnover with Iran in 2018 comprised $363.62 million which increased by 40.5% against 2017 ($258.8 million). The export from Armenia to Iran in 2018 comprised $94.2 million, which increased by 12% against 2017 ($84.1 million).


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