Iran (IMNA) - The total non-oil trade volume reached **885,719 tons**, valued at **$192.108 million**, with a significant **60% growth** in weight year-on-year.
Armenia has emerged as Iran's **10th largest trade partner** among its neighbors during this timeframe. In a bid to enhance bilateral cooperation, the **18th meeting of the Iran-Armenia Joint Economic Committee** took place in Tehran on February 14-15, where both nations signed **19 documents and memorandums of understanding (MOUs)** covering areas such as trade development, customs cooperation, maritime transportation, food, and medicine.
Attendees at the meeting included high-ranking officials such as Armenia's Deputy Prime Minister Mher Grigoryan and Iran’s former Head of the Trade Promotion Organization Mehdi Zeighami. Grigoryan emphasized the potential to boost annual trade between the two countries to **$3 billion**, highlighting Iran's role as a crucial partner for Armenia.
In discussions on infrastructure, Grigoryan urged Iranian companies to participate in Armenia’s road construction projects. He noted that new power transmission lines are under construction to facilitate increased electricity exports from Armenia to Iran under their gas-for-electricity agreement, which has been extended until **2030**.
Additionally, Iran's Food and Drug Administration expressed readiness to export domestically produced pharmaceuticals to Armenia, while Armenian officials welcomed collaboration in health tourism and pharmaceutical insurance.
To further strengthen ties, Armenia plans to construct a new **24-kilometer highway** leading to the Iranian border with funding from the European Bank for Reconstruction and Development (EBRD), aimed at enhancing connectivity and reducing travel time between the two nations.
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