Iran, Armenia join forces to produce agricultural machinery

Iran, Armenia join forces to produce agricultural machinery

PanARMENIAN.Net - Iran and Armenia signed a Memorandum of Understanding on joint production of agricultural machinery, Iran’s commercial attaché to Armenia said on Sunday, August 19, according to Mehr News Agency.

Mohsen Rahimi said that an Iranian company has inked an MoU with Armenia’s business development fund to jointly manufacture agricultural machinery in Armenia. The agreement was signed with Armenian deputy minister of Economic Development and Investments and deputy ministry of Agriculture in attendance, he added.

As per the agreement, Iranian company will export Knock-down kit (CKD) parts to Armenia and do the assembling in that country, Trade Promotion Organization of Iran reported. The Armenian side has promised to facilitate all the paperwork and also attendance of the Iranian company in international fairs while providing technical, informational and legal supports.

The Iranian company has aimed to get into Armenia’s market at the first step and then export machinery to member states of Eurasian Economic Union.

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