Iran's minister of finance Masoud Karbasian in a recent meeting with Vardan Harutyunyan, head of Armenia's State Revenue Committee, said that the two counties have strong economic and political ties, The Financial Tribune.

"Friendly ties between the two countries must be bolstered with stronger economic ties and to achieve this goal, the commission for boosting economic ties must become more active," he said.

The official stressed the importance of expanding banking cooperation, collaborating in free trade zones, avoiding double taxation and investing in mutually beneficial fields.

Harutyunyan referred to the historically strong Iran-Armenia ties and said his country is ready to expand economic ties, especially in the fields of information technology and customs.