Varus Simonian and Shafeie both agreed that given the high potential for further development of the two countries' commercial transactions both sides need to improvise ways to reach that end.

The head of the Iran Chamber of Commerce referred to the very long record of the two countries' relations and noted that after independence, the Caucasus and Central Asian regions achieved an outstanding position in terms of economic development and its private sector took shape with quite a noticeable fast speed.

He said that the Armenian economy, too, developed spectacularly well during this period, reiterating: Armenia has embraced the open market economy, which has led to satisfactory growth if it, and it also rapidly with a good speed joined the World Trade Organization (WTO).

The Deputy Armenian Commerce Minister Varus Simonian, too, said in the meeting: Having comprehensive ties with Iran is of great importance for Armenia and we are here to implement the reached agreements as we believe Iran has a positive status in the region’s economic developments and also Iran is a friend of Armenia and we have satisfactory bilateral cooperation.

Simonian further reiterated that the level of the two countries’ economic ties does not match the two countries’ political relations and efforts are needed to improve it.

We tried during the past days to identify the obstacles and problems and find ways to eliminate them so that as a result we will also boost regional cooperation. He said that after the collapse of the Communist system Armenia joined the WTO immediately.

Armenian is the only Eurasian Union member state that has land borders with Iran and can facilitate Iran’s access to the 200-million-strong Eurasia region countries.

He said his country has several times voiced readiness for cooperation with you and this is not merely a world of mouth.

Armenian is deeply standing beside Iran in the Eurasia Union, as both countries’ economies need to further expand in Eurasia, and this is in need of bilateral cooperation so that until full implementation of the free trade and elimination of the customs tariffs those measures will not create obstacles in the way of bilateral cooperation, he added.