TEHRAN – The Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) and the Embassy of Armenia in Tehran have agreed to establish a joint digital platform to connect Iranian and Armenian businesses directly, aiming to expand bilateral trade and investment opportunities.

During a meeting between Hamed Asgari, ICCIMA’s deputy for international affairs, and Hayk Nazaryan, commercial attaché of the Armenian Embassy, the two sides reviewed the current level of trade cooperation and discussed practical strategies to deepen economic relations.

Asgari commended the Armenian Embassy for its active role in facilitating the Iranian trade delegation’s visit to Yerevan, which coincided with the Iranian president’s official trip earlier this year.

He said the two nations are working toward elevating their partnership to a strategic level, with a shared goal of increasing annual trade volume from $737 million in 2024 to $1 billion in 2025, and eventually to $3 billion in the coming years.

The ICCIMA deputy emphasized that achieving a balanced and sustainable trade relationship requires the design of coordinated frameworks to enhance cross-border business activity.

He underlined the importance of using existing networks of Iranian and Armenian entrepreneurs based in other countries to identify potential partners and promote mutual investment.

Both sides agreed to launch a joint B2B matchmaking platform, which will serve as a unified and accessible digital space for companies seeking partnerships, suppliers, or clients in either market.

They also decided to develop joint protocols for issuing certificates of origin to improve transparency and prevent forgery, hold technical meetings between customs authorities to harmonize trade procedures, and organize a joint conference on the Eurasian Economic Union (EAEU) free trade opportunities.

The Armenian side welcomed ICCIMA’s proposal to hold specialized business forums in Tehran and Yerevan to facilitate sector-specific cooperation, particularly in construction materials, food processing, and logistics.

The meeting concluded with both parties reaffirming their commitment to continuous coordination and information exchange through the joint platform to enhance bilateral trade efficiency and trust.

In September 1, the head of the Islamic Republic of Iran Railways (known as RAI) and his Armenian counterpart discussed expanding technical and operational cooperation in rail transport among CIS member states during visit to Russia.

Jabarali Zakari, deputy transport minister and head of the RAI, met the chairman of Armenian Railways on the sidelines of a Railways exhibition in St. Petersburg.

Talks covered establishing sustainable rail transport, identifying cargo potential along the corridor, activating freight forwarders, and easing rail connectivity between Iran and Russia through Armenia, contingent on the resolution of political disputes between Armenia and Azerbaijan.

With Baku and Yerevan recently reaching a preliminary agreement, officials concluded that the memorandum could help reopen the western route of the International North–South Transit Corridor (INSTC) via Nakhchivan. This would restore rail links between Iran and Russia through Yerevan after years of suspension.

The sides agreed to hold their next meeting in Tehran in the near future.

The Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) announced that a recent trade mission to Armenia produced 10 cooperation agreements across energy, tourism, pharmaceuticals, transport, technical standards, and culture.

Mohammadreza Bahraman, ICCIMA vice president, said the delegation’s visit — held in parallel with the Iranian president’s official trip — marked a turning point for regional economic cooperation, opening doors to joint investment and expanded market access.

“Armenia is not only a gateway to the 184 million-strong Eurasian Economic Union (EAEU) but also a bridge to Europe through its trade agreements with the EU,” Bahraman said.

He cited Armenia’s economic stability, investor-friendly environment, skilled workforce, tax incentives and competitive costs as key attractions for Iranian investors.

Among the key outcomes were a target of $3.0 billion in bilateral trade using the Iran–EAEU free trade agreement, and the creation of a four-party committee of chambers and customs officials to resolve certificate-of-origin and customs barriers.

Progress was also made on infrastructure, including a second border bridge over the Aras River and completion of the third power exchange line, which is expected to boost energy and transport capacity several fold.

Bahraman highlighted priority sectors for Iranian investment in Armenia, including mining, agriculture, pharmaceuticals, renewable energy, IT and R&D, as well as logistics projects linked to the INSTC.

He added that proposals were made to establish a permanent exhibition of Iranian goods and joint industrial parks in border regions.

Although a dedicated mining session was not held during the visit, Bahraman said groundwork was laid for future cooperation through customs and legal frameworks to support mineral exports.

The completion of Armenia’s third power line would also enable the launch of mineral processing units, he noted.

Enterprise Armenia presented mineral opportunities to the Iranian delegation, paving the way for Iranian firms to enter exploration, extraction and processing projects.

Bahraman called for ICCIMA to organize a dedicated mining delegation to Armenia as the next step, aligned with Iran’s goal of 13 percent growth in mining under the seventh development plan.

“Economic diplomacy is a marathon, not a sprint,” Bahraman said. “In this trip, we cleared the initial obstacles so that in future visits, specialized cooperation — particularly in mining — can be pursued on a sustainable footing. Armenia is more than a market; it is a testing ground for new regional models of cooperation. With unprecedented incentives from the Armenian government and ICCIMA’s institutional support, we can turn Armenia into Iran’s strategic hub in Eurasia and Europe.”

Iran’s Industry, Mining and Trade Minister has said tariffs on 87 percent of goods traded between Iran and Armenia have been eliminated, as Tehran presses ahead with efforts to expand a preferential trade pact with the Eurasian Economic Union (EAEU).

Minister Seyed Mohammad Atabak said Iran has been formally recognized as a permanent observer in the EAEU, a status that allows the country to broaden ties with member states.

He noted that in recent years Tehran has sought to strengthen commercial links with neighbors, particularly Armenia, which he described as Iran’s gateway to the Eurasian market.

Atabak said the preferential trade agreement that came into effect in May marked a significant milestone, reducing tariffs on the majority of goods traded with Armenia to zero. “This development has already spurred an upward trend in trade volumes with Armenia and other EAEU members,” he said, adding that negotiations to expand the pact to cover other sectors are continuing.

The announcement coincided with President Masoud Pezeshkian’s official visit to Yerevan, where he was received by senior Armenian officials.

On the sidelines of the trip, Iranian vice president and head of the Planning and Budget Organization (PBO) Seyed Hamid Pourmohammadi held talks with Armenian Deputy Prime Minister Mher Grigoryan.

The two officials reviewed opportunities to expand cooperation in infrastructure and transportation, including boosting road and transit capacity between the two countries.

They also discussed energy trade, such as electricity exchange, sales of liquefied petroleum gas (LPG), and potential Iranian exports of oil and natural gas to Armenia.

Iran also proposed supplying fuel to Armenian airlines.

In the meeting, the two sides agreed to establish joint working groups to monitor and implement agreements.

During the visit to Armenia, President Masoud Pezeshkian met with top Armenian officials to discuss strategic cooperation, particularly in transit corridors, regional connectivity, and economic partnerships.

In this trip, in order to enhance the level of relations, high-ranking officials of the both countries signed a joint statement and 10 memorandums of understanding and cooperation documents in the political, social, cultural, tourism, industrial, educational, road and urban development, art, and health fields in the presence of President Pezeshkian and Armenian Prime Minister Nikol Pashinyan.

On the sidelines of the visit, Iranian Minister of Transport and Urban Development Farzaneh Sadegh and Armenian Minister of Territorial Administration and Infrastructure Davit Hovhannisyan held a key meeting to advance transportation infrastructure, enhance logistic networks, and resolve transit disputes.

In this meeting, Sadegh highlighted the strategic importance of north–south and Persian Gulf–Black Sea corridors and urged improvements in Armenian road, rail, and logistics systems to facilitate the transfer of goods.

She also called for a revision of the roughly $330 disparity in tariffs between the two countries and stressed that new transit routes should avoid geopolitical disruptions.

Sadegh described the reopening of the Jolfa–Yerevan–Georgia rail link as a major step in boosting regional transit and characterized President Pezeshkian’s visit as a turning point in Tehran–Yerevan transport and logistics relations.

Hovhannisyan thanked Iran for its support, particularly following the 2024 earthquake, praised Iranian contractors’ performance, announced a tender for a new segment of the north–south route, and confirmed the formation of a joint working group to address tariff discrepancies for Iranian vehicles.

In the economic arena, Iranian Minister of Industry, Mine and Trade Seyed Mohammad Atabak met with Armenian Minister of Economy Gevorg Papoyan and announced a target to increase bilateral trade to $3.0 billion.

Both ministers proposed establishing a joint working group, including their deputies, to expedite agreements and facilitate commerce in industrial and trade sectors, highlighting the broader aim of deepening Iran–Armenia economic cooperation.

EF/MA