Armenia's trade volumes with Iran and China increased in 2021, Armenian Economy Minister Vahan Kerobyan said on Monday.

His remarks came at the joint session of parliamentary standing committees at the preliminary discussion of the state budget 2021 in the National Assembly.

According to him, the EEU-Iran temporary agreement on a free trade zone was ratified back in October 2019.

"In 2021, compared to 2020, Iran-Armenia trade increased by about 25 percent, amounting to almost $503 million," Kerobyan said.

The minister also noted that trade figures with Iran could have been even higher.

"The problems with cargo transportation on the Goris-Kapan highway, some sections of which are not controlled by Armenia at the moment, simply got in the way. Trade with China, with which the EEU has a cooperation agreement, in 2021 increased by 30.7% and amounted to $ 1 billion 260 million," said a representative of the Government.