Iran and Armenia will sign a free trade agreement (FTA) during the Armenian economy minister’s upcoming visit to Tehran.

During the meeting held between Armenia’s Ambassador to Tehran Grigor Arakelian and Iranian Commerce Minister Mehdi Ghazanfari, the two sides discussed possible ways to boost bilateral trade cooperation, reported Tehran Times.

Tehran presented the draft of free trade agreement (FTA) to enhance the two-way transactions to Yerevan in August 2009.

Armenian-Iranian trade has totaled U.S. $45m since March 20. On this amount Iranian exports to Armenia totaled U.S. 31.