Armenian Ambassador to Iran Artashes Tumanyan in a meeting with Iranian Deputy Foreign Minister Morteza Sarmadi said Iranian firms can exports goods to Eurasian Economic Commission (EEC) member states by investing in Armenia.
Armenia, he said, is the gateway to the European Union which is an advantage for countries investing in Armenia, he added, reported Fars News Agency.
Sarmadi pointed to friendly ties between Tehran and Yerevan since Armenia's independence and said reciprocal visits by high-ranking officials can help further promote ties, particularly following the nuclear agreement between Iran and P5+1 (the five permanent UN Security Council members plus Germany) which has facilitated development of economic ties with neighboring Armenia.
In September, officials in Yerevan announced that the Eurasian Economic Union (EEU) has agreed to their proposal to endorse a Free Trade Agreement (FTA) with Iran.
Armenia and Iran have for years discussed ways of removing or at least reducing tariff barriers in bilateral trade. Armenia is no longer allowed to negotiate bilateral free-trade deals due to its EEU membership, effective from January 2015. It can enter into such arrangements only together with Russia and the three other former Soviet members of the bloc.
"About three months ago, we formally appealed to the Eurasian Economic Commission and all member states, proposing the start of a process of creating a more liberal trade regime between the EEU and Iran," said Armenia's Deputy Foreign Minister Shavarsh Kocharian in early September.
He linked the proposal with Iran's landmark nuclear agreement with the United States and other world powers on the removal of international sanctions against Tehran.
Yerevan's initiative is clearly motivated by a desire to facilitate Armenian manufacturers' access to the vast Iranian market that has long been protected by very high import duties.
According to official figures, Armenia's trade with Iran stood at a relatively modest $291 million last year. Armenian imports of Iranian goods accounted for 70 percent of that figure.
Iran and Armenia have taken major strides to broaden relations in recent years, particularly in the economic sector.