News - Armenia Seeks to Enhance Key Partnerships with Iran

In a meeting held on Tuesday, Armenia's Minister of Economy, Gevorg Papoyan, laid out a comprehensive proposal to expand cooperation with Iran across several pivotal sectors. During discussions with Iranian Ambassador to Armenia, Khalil Shirgola, Papoyan underscored the potential for increased economic interaction that extends beyond current diplomatic engagements. The talks focused on bolstering trade, enhancing joint investments and production, improving energy collaborations, and optimizing logistics operations. Armenia's drive to strengthen its economic footprint in Iran comes amidst a backdrop of rising trade volumes between the two nations, which recorded a significant increase in the first six months of 2026, climbing by 8.4% to $371.4 million. Despite a slight decrease in Armenian exports, which fell by 6% to $42.8 million, imports from Iran saw a substantial growth of 12%, reaching $336.9 million. The strategic dialogue highlighted the urgency of transforming the robust political dialogue between Armenia and Iran into tangible economic outcomes. Emphasizing the potential benefits of the Eurasian Economic Union (EAEU) free trade agreement with Iran, Papoyan envisions an expanded presence of Armenian products in the Iranian market and amends border procedures to smooth trade flows. Key initiatives discussed during the meeting included the launch of joint production ventures and the attraction of mutual investments aimed at energizing the local economies. Further discussions extended to potential long-term supply agreements for diesel and liquefied gas, underscoring the mutual interest in securing energy supply chains. As both nations explore new avenues of economic cooperation, Papoyan's proposal seeks to leverage existing political goodwill to create lucrative partnerships that can bolster economic stability and growth in the region.