News - Chabahar Port ready to work with all EAEU countries, Iran official says

Expanding trade and economic relations with neighboring countries is one of Iran's priorities. This was stated by Iran's Minister of Industry, Mining, and Trade, Seyyed Mohammad Atabak, during a panel discussion on cooperation between Iran and the Eurasian Economic Union (EAEU) within the framework of the third Eurasian Economic Forum in Yerevan. According to him, all kinds of tools are used for this. The minister emphasized the development of logistics and noted the limitations imposed by financial mechanisms. Atabak stressed the importance of creating a free economic zone, adding that many Iranian entrepreneurs have shown their willingness to join the EAEU markets. The minister said that after the signing of an agreement on the establishment of a free-trade zone, Iran’s trade with Armenia increased two and a half times. According to him, this indicator is good, but far from the goals set by the leaders of the two countries: $3 billion dollars. The current level of trade does not meet the interests of either Iran or Armenia, and it is necessary to ensure that the two countries know each other's markets better, Atabak said.  "On the other hand, our cooperation, particularly investments, are unlimited," the Iranian official added. Speaking about logistics, the minister reminded that Iran has important logistics, particularly the Chabahar Port, and Iran fully supports Armenia's Crossroads of Peace project. According to Seyyed Mohammad Atabak, the Chabahar Port is ready to work with all EAEU countries. Also, the minister noted the need to revise the legislation on transit transportation.