Armenia's membership in the European Union and its land border with Iran provide opportunities to create companies and carry out joint projects. Iran and Armenia are actively enhancing their trade ties, aiming to facilitate the transfer of goods from Iran to the Arab World and India. Last year, their trade volume reached $714 million, and the first half of this year has shown a 13% increase, indicating a sustained positive trend.
Both countries are committed to finding solutions and streamlining procedures to make this trade route a reality. Iran also plans to establish 8 free economic zones, with ambitions to expand to 15. To boost bilateral trade, an exhibition showcasing products from Armenian and Iranian companies in agriculture, manufacturing, and tourism sectors was held in Yerevan on August 25.