A delegation of 40 top Armenian companies are scheduled to visit Iran on November 9 to explore new business opportunities in the country, the Armenian Ambassador to Tehran Artashes Tumanyan said, according to Tehran Times.

Meeting with Iran Chamber of Commerce, Industry, Mine, and Agriculture (ICCIMA) Chairman Mohsen Jalalpour on October 10, Tumanyan said those companies could cooperate with Iran in the fields of banking and finance, IT and electronics, as well as agriculture, machinery manufacturing and jewelry.

“Iran is of high importance for Armenia both politically and economically,” Tumanyan said. “We are always happy to maintain stable ties with Iran.”

He said Iran’s nuclear deal with world powers prepares the ground for the expansion of trade ties between Iran and Armenia.

Jalalpour stressed the importance of expanding Iran-Armenia trade relations by removing legal barriers and signing a preferential trade agreement between the two countries.

The existence of some 48 types of minerals in Armenia enables Iranian companies to cooperate with the country in the field of mineral extraction, the Minister said.

Armenia was the 23rd biggest importer of Iranian non-oil goods in the first half of the current Iranian calendar year (March 21-Septemebr 22), according to the Iran Customs Administration.

Iran exported $63.847 million worth non-oil goods to Armenia and imported $5.409 million of non-oil goods from the country in the six-month period.