TEHRAN – Head of Iran’s Trade Promotion Organization (TPO) Alireza Peyman-Pak has said the country is planning to establish an automobile production line in Armenia with the aim of exporting to Eurasian markets, IRNA reported.


“A preliminary agreement has been reached for the construction of an Iranian car production line in Armenia, and based on this agreement, the justification plan is being prepared,” Peyman-Pak said.

According to the official, in this regard an Iranian automaker and an investor from the Armenian side have expressed readiness and the Iranian Industry Ministry and Armenia’s Economy Ministry are in charge of pursuing the plan.

During an Iran-Armenia business forum held in Tehran in mid-September by Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), the attendees underlined the significant position of Armenia as Iran’s only land gateway for entering Eurasian Economic Union (EAEU) markets.

Iran’s commercial attaché in Yerevan Akbar Godari, Head of Iran-Armenia Joint Chamber of Commerce and Industry Hervik Yarijanian, and Head of Aras Free Zone Organization Majid Kiani were the key speakers at the mentioned business forum.

Speaking at the forum, Godari stressed Armenia’s unique geopolitical situation among Iran’s neighboring countries and said: “Armenia is the only EAEU member with which Iran shares land border, and considering the fact that the country’s borders with Azerbaijan and Turkey are currently closed, Armenian market has a lot of potential for Iranian businessmen.”

Stating that in the last two years, numerous Iranian company representatives and business delegations have visited Armenia, Godari said: “The market of this country has a big difference with some neighboring countries; in Armenia, products are imported from many countries all around the world, so, Iranian products have to compete with world-class products.”

Elsewhere in the event, Yarijanian pointed to the positive relations between Iran and Armenia and stated: “In the last 30 years, the diplomatic relations between the two countries and given that Armenia shares Iran’s only land border with the Eurasian Economic Union, the development of relations with this country provides enormous economic potential.”

Also in early September, the TPO head hosted a meeting with Armenia’s Deputy Economy Minister Narek Teryan in which the officials talked about a variety of areas for economic cooperation between the two countries.

The development of trade relations, alternative ways of transit, barter trade, the establishment of an Iranian car production line in Armenia, and the establishment of a joint production line of household and electronic appliances were among the subjects discussed at the meeting.