Iran and Armenia signed a Memorandum of Understanding on joint production of agricultural machinery, Iran’s commercial attaché to Armenia Mohsen Rahimi said on Sunday.
The agreement was signed with Armenian deputy minister of Economic Development and Investments and deputy ministry of Agriculture in attendance, he added.
As per the agreement, Iranian company will export Knock-down kit (CKD) parts to Armenia and do the assembling in that country, Trade Promotion Organization of Iran reported. The Armenian side has promised to facilitate all the paperwork and also attendance of the Iranian company in international fairs while providing technical, informational and legal supports.
The Iranian company has aimed to get into Armenia’s market at the first step and then export machinery to member states of Eurasian Economic Union.