Iran's Minister of Industry, Mines and Trade has announced a 20 percent increase in Iran's exports to Armenia.

The growing trend of trade between the two countries shows that in this cooperation, the private sector and businessmen of Iran and Armenia are very interested in developing trade and economic relations and investing in manufacturing fields, and in fact Armenia as a member of the Caucasus region in the Economic Union Eurasia is an important trading partner for Iran.
 
Iran's Minister of Industry, Mines and Trade Reza Fatemi-Amin, who arrived in Armenia on Thursday at the head of a trade delegation to facilitate and strengthen Iran's economic relations with neighboring countries, said that Iran's export volume to Armenia was $ 500 million. According to both sides, this volume can be increased to one billion dollars.
 
Fatemi-Amin added: "One of the priorities of the Iranian government is to expand foreign trade, which should be relatively endogenous and extroverted."
 
The Minister of Industry, Mines and Trade of Iran also referred to some strategies for expanding economic cooperation between Iran and Armenia, and said: "In the conversations that took place between Iranian and Armenian businesses in the field of home appliances, there is a tendency for technologies and parts to be supplied from Iran and to be produced in Armenia."