The head of the Trade Promotion Organization of Iran (TPOI) on Friday announced the launch of an car manufacture line in Armenia aimed at exporting manufactured cars to the Eurasian Economic Union (EEU) states, Mehr reported.

Alireza Payman-Pak said that a leading Iranian car manufacturer and also an Armenian investor have expressed their readiness to launch the car manufacture line as a joint venture, the issue of which is pursued by the Armenian Ministry of Economy and also the Iranian Ministry of Industry, Mine and Trade.

Presently, the Armenian private sector purchases cars from Iran and supplies them in its domestic market, he emphasized.

All Iranian cars exported to Armenia have totally been manufactured by Iran Khodro Industrial Group (IKCO), he said, adding that about 200 cars have so far been ordered by Armenia.

He went on to add that Armenia is among the EEU countries which does not pay any trade tariff to these countries.

Suitable opportunities have been provided for the country in order to export quality cars to the Eurasian Economic Union’s markets, the TPOI chief added.