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Lifting of Sanctions will Have a Positive Impact on the Iranian-Armenian Relations

Armenia attaches great importance to its relations with Iran and to the coordination of the projects for the development of these relations before the sanctions against Iran would be lifted. This is particularly important in the context of the visit of Iran's Deputy Foreign Minister and the representatives of Iran-Armenia friendship group to Armenia.

There is quite a huge progress in the negotiations between Iran and the world six powers on the Iranian nuclear deal and there is a hope that the final deal will be signed till June 30. Signing this agreement, surely, will have a positive effect on the economy of Iran, as the deal presupposes lifting of the sanctions imposed on the country. This will enhance production, export, trade, will contribute to changes in the banking system, will stabilize the currency - Touman and improve the social conditions. Obviously, all these will become possible due to the improvement of Iran’s foreign economic relations.

Thus, after the final Iranian nuclear deal a lot of issues concerning Iran’s foreign policy will appear on the country’s agenda. These issues will first of all be related with the reestablishment of the economic relations with the West. In this regard, the economic relations with Armenia after the sanctions are lifted can become secondary. To avoid such developments, it is necessary to regulate the economic relations with Iran before the sanctions are lifted and the visit of Iran's Deputy Foreign Minister can contribute to this.

Thus on June 11, the RA Minister of Foreign Affairs Edward Nalbandian received Deputy Ministers of Foreign Affairs Ibrahim Rahimpour. The interlocutors, as the press service of the RA MFA informs, discussed the activation of political dialogue between two countries, and enhancing cooperation in energy, trade-economic, humanitarian fields, as well as in the framework of international organizations. The realization of joint economic projects has also been touched upon in detail.

On the same day the RA National Assembly Speaker Galust Sahakyan received the President and the members of Iran-Armenia friendship group. Sahakyan has mentioned the importance of the implementation of the projects within the set timeframe.

It should be mentioned, that in spite of the sanctions on Iran, its economic relations with Armenia has always been on a high level. Moreover, during the recent years progress has been recorded. According to the National Statistical Service, 5% of Armenia's foreign trade in 2015 was with the Islamic Republic of Iran. In particular,the trade turnover between the two countries comprises a total of $291 million.

Lifting of sanctions will certainly have a positive impact on the Iranian-Armenian relations. Signing an agreement on the creation of a free trade area between Iran and the Eurasian Economic Union, around which the parties have already expressed their intention to start negotiations, can have a positive impact on Armenia-Iran bilateral economic relations.

Creation of a free trade area between the EEU and Iran could give a new impetus to the development of economic relations between Armenia and Iran, since the free trade agreement provides liberalization of customs policy, which will make the Armenian and Iranian markets more attractive for the businessmen of the two countries.

 

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