YEREVAN (Public Radio of Armenian/PanArmenian.net) — Armenia and Iran have pledged to significantly deepen their economic partnership, setting a target of reaching a $3 billion trade turnover through expanded investments, infrastructure projects, and closer cooperation in key sectors on August 19.
The agreement was announced following talks between Prime Minister Nikol Pashinyan and Iranian President Masoud Pezeshkian, who was on an official visit to Armenia. The two leaders reaffirmed their commitment to strengthen bilateral trade, taking advantage of the opportunities provided by the Free Trade Agreement between Iran and the Eurasian Economic Union.
Among the priority projects highlighted was the construction of a second bridge over the Araks River, development of new and modernized border crossings, and the reduction of customs duties to facilitate trade. Both sides also emphasized the importance of the Persian Gulf–Black Sea transport corridor, which is expected to boost regional connectivity and strengthen the transit role of both countries.
Energy cooperation was another key focus. The leaders underscored the urgency of completing the third power transmission line between Armenia and Iran, which would expand electricity exchanges under the existing gas-for-electricity barter agreement.
The statement also underlined the need to develop international transportation routes, roads and railways, linking Armenia more directly with Iran and regional markets. In this context, Pashinyan’s “Crossroads of Peace” initiative received backing from Tehran, with both sides stressing that new transportation links must respect territorial integrity and national sovereignty.
Beyond infrastructure, Armenia and Iran agreed to support joint ventures in industry, agriculture, mining and services, with a special emphasis on creating favorable conditions for private sector cooperation.
