Currently, the question of opening a trade corridor between India, Iran, and Armenia is being actively discussed. This was stated by the Deputy Minister of Economy of Armenia, Narek Terian, during the business forum "India-Armenia: Bridging Business Horizons" on March 14 in Yerevan.
He noted that at the moment, pilot cargo shipments are already being carried out along this trade route, but admitted that much work still needs to be done to establish a stable transportation route.
"We are discussing this project quite intensively with our colleagues in a trilateral format, but for now, I would not like to disclose the details," he said.
Deputy Minister Narek Terian reported that the trade turnover between Armenia and India in 2023 increased by 7%, reaching $380 million. This figure significantly differs from the data presented by the Indian ambassador at the same event, who estimated the trade turnover between the two countries at $200 million.
"We strive for our producers to enter the huge Indian market, where there is great potential for the implementation of Armenian products," said the Deputy Minister of Economy on the sidelines of the Armenian-Indian business forum.
According to him, India considers Armenia as a strategic partner in the region, which is manifested in many areas, including civil and other spheres. "In addition, over the past two years, a lot of labor force from India has come to our country and is quite successfully working in many spheres," emphasized the official.
Terian reported that currently, various formats of Armenia's or Armenian companies' participation in the Chabahar port in Iran are being discussed, but he did not disclose the details.
Recently, India and Armenia have been strengthening their relations. According to Indian media reports, which have not been refuted by Armenian official sources, Armenia has concluded deals with India for the purchase of weaponry worth hundreds of millions of dollars.
Earlier, with reference to Indian Aerospace Defense News, BMG reported on the creation of an air corridor from India to Armenia for strategic exports. Hindustan Aeronautics Limited (HAL) and Container Corporation of India (CONCOR) jointly formed a working group called HALCON. The goal of this group is to improve logistics between India and Armenia.
