Iran and Armenia singed five letters of understanding during the official visit of Iranian delegation led by President Mahmoud Ahmadinejad to Yerevan on Friday.
Tehran and Yerevan MoUs cover various fields of cooperation including the construction of hydroelectric power plants on Aras dam, cooperation between the Institute for Standards and Industrial Research of Iran and the Armenian National Institute for Standards as well as cooperation in the fields of social welfare, employment and environment protection.
President Ahmadinejad and Armenian President Serzh Sargsyan on Friday held first round of talks on major topics concerning bilateral, regional, and international issues.
President Ahmadinejad’s visit to Armenia takes place upon an invitation by Armenian President Sargsyan and in line with expansion of bilateral ties between two countries.
Supply of oil products to Armenia and construction of railways are among main topics of discussion during President Ahmadinejad’s one-day visit to Yerevan.
Trade stood at dlrs 270 million in 2010 between the two countries. The figure rose up to dlrs 300 million in 2011.
Over the past 20 years, energy sector has played an important role in Iran-Armenia trade relations.
Relations between Armenia and the Islamic Republic of Iran remain extremely cordial and both Armenia and Iran are strategic partners in the region. Armenia and Iran enjoy cultural and historical ties that go back thousands of years. There are no border disputes between the two countries and the Christian Armenian minority in Iran enjoys official recognition.
In July, 2007, a memorandum was signed on the start of feasibility studies on the ideas of building an Armenian-Iranian railway and a Russian-owned oil refinery that would process Iranian crude.
The Armenian government is building a second, bigger highway leading to the Iranian border in the hope of boosting trade with Iran.
The two countries have reached a preliminary agreement to make joint TV serials. The joint venture would portray the social and cultural life of Iran and Armenia and expand cinematic ties between the two countries.