Iran aims to boost trade with Armenia up to $3bn

Iran’s Minister of Road and Urban Development Mehrdad Bazrpash has stressed the importance of completing the North-South Corridor to boost trade between Iran and Armenia to $3 billion.

Speaking in a meeting with Prime Minister of Armenia Nikol Pashinyan, Bazrpash said that Iran is after a peaceful Caucasus.

He affirmed that supporting Armenia’s territorial integrity is a policy of Iran and fostering relations with neighboring countries is a key strategy of the Islamic Republic of Iran.

Bazrpash highlighted that lowering transit tariffs and road tolls is essential for enhancing trade between the two nations. He also conveyed Iran’s willingness to construct a second border bridge in Nordooz, a border village between Iran and Armenia.

Furthermore, Bazrpash welcomed Armenian investment companies in Iran and the export of Iranian technical and engineering services to Armenia. He also emphasized the role of Armenian banks in providing guarantees.