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Legal Matters

Iran, Armenia sign agricultural MoU

Tehran, Iran's cultural attache in Armenia said that the country's Fund for Developing Business and an Iranian company signed a memorandum of understanding (MoU) to jointly produce agricultural machinery.

According to Iran Trade Development Organization's website, Mohsen Rahimi added that the deal was signed in a ceremony in Armenia attended by the deputies of the country's agriculture and economy ministers.

Based on the agreement, Iranian company will export all types of agricultural machinery parts to Armenia and will assembly them in the country.

Armenian Fund for Developing Business will cooperate with the Iranian company in the field of easing administrative procedures, participation in exhibitions and commercial events, technical assistance and information dissemination.

At the first stage, Iran will export CKD parts worth one million dollars to Armenia to put them together there, Rahimi said.

Iranian company also plans to export parts to the other Eurasian member states in addition to Armenia.

Armenia, a country of three million people, gained independence in 1991 following collapse of the Soviet Union.

Source: Islamic Republic News Agency - IRNA

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