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Iran and Armenia sign bilateral cooperation document in electricity, commerce, business, industrial and other fields

31 May 2011 13:23 (UTC +04:00)

APA reports quoting IRNA agency that the relevant document was signed within the meeting of Iran-Armenia intergovernmental commission. The document was signed by Armenian minister of energy and natural resources Armen Movsisian and Iranian foreign minister Ali Akbar Salehi. The Iranian foreign minister pointed out that the volume of the two countries’ trade in the year 2010 increased to 38%. He also said that Armenia’s unique position in the region, which can be connected to the Black Sea in the west on one hand, and to the Persian Gulf through Iran on the other hand, can bring very positive economic fruits both for two countries, and for the entire region.

The sides also discussed the construction project of railroad from Julfa to Sisian. Iranian Railroad official Reza Pilpayeh estimated that over $2.5 billion will be needed to construct the railroad from Julfa to Sisian which is to be made available by investors during the implementation of the project.