Armenian-Iranian political relations are dynamically developing, which cannot be said of economic relations. Mohammad Nahavandian, President, Iran Chamber of Commerce, Industries & Mines, describes Armenian-Iranian economic relations as lamentable. True, Armenian-Iranian trade turnover is within U.S. $500m, whereas Iran’s foreign trade turnover is U.S. $120bn, and Armenia’s trade turnover is U.S. $5bn.

The two nations fail to use the enormous potential. One of the ways is cooperation between the Armenian Chamber of Commerce and Industry and the Iran Chamber of Commerce, Industries & Mines. On October 1, in Yerevan, Armenian and Iranian businessmen held discussions. Mr. Nahavandian described the situation in detail. The Iranian-Armenian businessman Levon Aharonyan, in turn, introduced Mr. Nahavandian as one of the most influential people in Iran. Mr. Nahavandian presented a number of fields of bilateral cooperation, particularly the establishment joint transport and trade companies.

Among possible areas of cooperation are food and petrochemical industries, spare part production and high technologies. Mr. Nahavandian made a sensational statement: Armenian-Iranian energy cooperation will ensure Europe’s energy security Armenian businessmen are poorly informed of Iranian economy and its potential. A business center to be opened in Yerevan will inform Armenian businessmen of the Iranian economy.

Martin Sargsyan, Chairman of the Armenian Chamber of Commerce and Industry, does not rule out the opening of an Armenian business center in Iran.