Last year, the trade between Armenia and Iran amounted to $704 million, and in general, this indicator has increased two to three times over the past few years. Iran's ambassador to Armenia, Mehdi Sobhani, stated this during a press conference on Tuesday.

"Taking into account a number of programs that we are negotiating with the Ministry of Economy of Armenia, there is a chance to increase these indicators," Sobhani noted, adding that an increase in trade between the two countries was also recorded in January and February of this year.

The Iranian envoy to Armenia informed that one of the discussed programs is in the communication sector.

The Iranian diplomat said that his country and Armenia have reached good agreements in transportation—and in the form of reduced fees, including for transit.

"Besides, the matter of road improvement, as well as the possibility of starting commodity barter trade with Armenia, is on the agenda," stressed the Iranian ambassador to Armenia.