Executive Director of the Development Foundation of Armenia (DFA) Armen Avak Avakian and President of Iran Trade Promotion Organization, Iranian Deputy Minister of Industries, Mines and Trade Mojtaba Khosrowtaj signed a memorandum of understanding to boost bilateral cooperation, DFA press service reports.

The parties discussed practical steps and current problems in the sectors of investment and trade turnover.

Following last year’s Tehran-hosted Armenia Expo, 18 companies operating in food, construction, jewelry, tourism and textile sectors and banks started talks on exporting Armenian goods and services to Iran.

After the Expo, DFA Executive Director raised the issue of eliminating procedural barriers in exporting Armenian products to Iran.

At the meeting, Avakian stressed the need to simplify those procedures, further briefing the Iranian official on Armenia’s most prospective sectors in terms of investments.