Iran, Armenia to establish joint industrial park

10 Nov 2021

Iran, Armenia to establish joint industrial park

By Tehran Times

November 10, 2021

https://www.tehrantimes.com/news/466897/Iran-Armenia-to-establish-joint-industrial-park

 

TEHRAN - Head of Iran-Armenia Joint Chamber of Commerce and Industry has said the two countries plan to establish a joint industrial park in the near future, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported on Wednesday.

Hervik Yarijanian said the two sides also have the potential to cooperate in other fields like banking, finance, agriculture, and extraterrestrial farming.

“We are negotiating with Armenian authorities to provide the necessary basis for the two sides’ businessmen to be able to invest and produce goods together with the aim of gaining access to more distant markets such as Europe and Canada,” he said.

"Currently, the preferential tariff between several European countries and Canada with Armenia is four percent, and in this situation, if a joint product with investment between Iran and Armenia is produced and exported to these markets, it can be actually exported to those markets with a four-percent customs duty."

Referring to a meeting between an Iranian trade delegation and the Armenian Economy Minister a few weeks ago, Yarijanian said: "The Armenian Economy Minister welcomed the development of trade relations between the two countries and is planning to allocate about 50 hectares of land for establishing a joint industrial park.”

"In fact, Iran's industrial zones, in cooperation with Armenia's industrial parks, are set to build a joint industrial zone, and this could lead to the transfer of technology and capital from the Islamic Republic of Iran and the processing and export of goods from Armenia," he explained.

Noting that currently there is no particular challenge to the development of Iran-Armenia trade, he said: "The problem with Iran-Armenia trade in recent years was that the two countries have relied heavily on energy exchange; That is, the Islamic Republic of Iran received electricity from Armenia in exchange for gas exports. But given that the Armenian government has banned the import of more than 1,000 commodity items of goods from Turkey, the conditions are now quite favorable for the development of trade between the two countries and the increase of Iran's exports to Armenia."