During a joint press conference in Yerevan, Armenian Foreign Minister Ararat Mirzoyan and his Iranian counterpart addressed the potential to expand bilateral trade to $3 billion, Aysor.am reports.

Mirzoyan emphasized that Iran plays a role in the implementation of Armenia’s economic and infrastructure projects, noting their strategic significance in addition to their economic value.

Iranian Foreign Minister Abbas Araghchi revealed that Yerevan and Tehran are considering proposals to simplify procedures for freight transport between the two countries, including customs duties, according to Sputnik Armenia.

Mirzoyan added that talks are nearing completion and results will be published once finalized. “Efforts have been ongoing, and experts have been working on this. We have roughly outlined a formula,” he stated.

On March 24, Abbas Araghchi toured downtown Yerevan, spoke with Iranian nationals, and even visited a souvenir shop.