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Iran, Armenia Set to Boost Ties

Service : Politic
TEHRAN, May 31 (ICANA) – Iran and Armenia have inked memorandums of understanding (MoU) to expand economic ties in the fields of energy, trade, banking and transportation.
Tuesday, May 31, 2011 2:22:28 PM
Iran, Armenia Set to Boost Ties

The MoUs were signed at the end of a two-day intergovernmental summit between ministers of the two countries in Tehran, a Press TV correspondent reported on Monday.

Upon signing the MoUs, Iranian Foreign Minister Ali Akbar Salehi noted, “In 2010, trade between Iran and Armenia increased by 38 percent, bilateral trade between the two sides currently stands at 270 million dollars and we are now the fourth biggest economic partner for Armenia. Now considering the potentials the agreements will help boost trade and particularly a railway project that we agreed on.”

A $110 million project to build a third electricity transmission line for Armenia, the construction of a hydroelectric dam along the border of the two countries, and a 500 km railroad to link the two countries were among the most important topics discussed between the officials of the two neighbors.

For his part, Armenian Energy Minister Armen Movisian said, “Iran plays an important role in the region and we are aware that Iran considers what's best for the region especially regarding the Karabagh issue. As far as this economic commission is concerned we are happy with the agreements that we have made in different fields including transportation.”

The tenth intergovernmental meeting comes as Iranian President Mahmoud Ahmadinejad plans to visit Armenia in June.

The Iranian president is scheduled to hold talks with his Armenian counterpart and other senior officials of the country, Fars news agency reported.

Previously, President Ahmadinejad paid a state visit to Armenia in 2007 and held talks with top officials of the country. At the end of the visit, the two sides signed four memoranda of understanding and issued a joint communique on the expansion of bilateral cooperation.

Iran and Armenia have taken major strides towards promoting mutual relations in the past few years. The bilateral trade volume between the two states stands at nearly $270 million, a figure that is expected to climb, according to officials.

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