On 23 October Armenia and Iran signed an agreement on the construction of the southern section of the North-South highway, as well as the abolition of road tolls. Armenian Economy Minister Vahan Kerobyan told reporters in Tehran that these decisions will have a positive impact on the country's GDP by a growth of 0.4%, and will also shorten the journey by 30 minutes.
The minister also noted that the mentioned road project will significantly help improve bilateral cargo transportation, and the abolition of road tolls significantly facilitate access to the markets of the Persian Gulf countries and other Middle East countries for Armenian exporters.
Armenpress quotes Iranian Deputy Foreign Minister Mehdi Safari, who said in the near future, trade turnover between the two countries will reach one billion dollars.
“The Iranian side is interested in the speedy construction of the southern section of the North-South highway so that we can achieve our common goals. We also attach great importance to expanding existing cooperation in the fields of energy and nanotechnology. Overall, we call the North-South Highway the road of peace,” said Iran’s Deputy Foreign Minister.
To note, Minister of Roads and Urban Development of Iran Mehrdad Bazrpash, was in the meantime on a visit to Yerevan, where joint road projects were discussed, in particular, the construction of an additional bridge on the Armenian-Iranian border. As the minister told reporters at a briefing, many Iranian companies want to be involved in the Armenian economy, and Tehran is ready to provide adequate support to Armenian companies that would like to implement projects in Iran.
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