Sun, 6 April
15.1 C
Yerevan
USD: 391.22 RUB: 4.63 EUR: 431.28 GEL: 142.08 GBP: 508.39
spot_img

Armenia, Iran discussing prospects for deepening financial cooperation

YEREVAN, October 25. /ARKA/. Vardan Aramyan, Armenian finance minister, and Seyyed Kazem Sajjad, Iranian ambassador to Armenia, met on Monday and discussed prospects for modernizing Armenia’s financial systems.

Aramyan is quoted by the finance ministry’s press office as saying that fast economic growth in Iran will have positive impacts on Armenia’s economic growth, and this means that Yerevan is interested in stable economic growth in the neighboring country.

”Economic sanctions against our neighbor affect also us,” he said. “But things have already changed and we are happy that Iran regulates its economic relationship with other countries. I am convinced that we will manage to reach high indicators by joint efforts.”

He stressed that there is plenty untapped capacity in Armenia-Iran business relations.

“Mutual investments are insignificant – Iran’s investments into Armenia total $3 million and Armenia’s investments in Iran amount to $250,000,” Aramyan said. “This means that we have plenty to do and that we can quickly increase this indicator, given the two countries people’s centuries-long trade potential.”

The minister expressed confidence that it is possible to build up Armenian-Iranian trade turnover by development and implementation of mega projects, what was impossible in the past because of economic sanctions against Iran.

In this context, Aramyan said that there is untapped capacity not only in cooperation in energy sector, but also in other segments of the economy, for example road building.

Seyyed Kazem Sajjad, on his side, said that Iran is interested in expansion of cooperation in insurance segment, in prospects for opening new branches by Mellat Bank in Armenia and in interaction on international financial platforms. –0—

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

LATEST NEWS

spot_imgspot_imgspot_img