A large Iranian trade center is set to open in the capital of Armenia, becoming an important link between Iran and the Eurasian Economic Union (EAEU). The grand opening ceremony is scheduled for October 1.
According to the Iranian news agency Mehr, the new trade complex will cover an area of 18,000 square meters and feature 107 exhibition pavilions. In addition to retail spaces, the center will also have areas for hosting various events, conferences, and festivals.
The opening ceremony is expected to be attended by high-ranking officials, including Armenia’s Minister of Economy and Iran’s Minister of Industry, Mines, and Trade. Representatives from the business community and leaders of major Iranian industrial enterprises are also expected to participate.
The opening of this trade center comes in the wake of the recent signing of a full-scale free trade agreement between the EAEU and Iran on September 25, 2023. This agreement, which replaces the interim accord from 2019, provides for the elimination of customs duties on nearly 90% of goods, covering more than 95% of mutual trade turnover.
Thus, the new trade center in Yerevan is poised to serve not only as a platform for showcasing Iranian products but also as a key tool for strengthening economic ties between Iran and the EAEU countries.
