YEREVAN, JULY 19, ARMENPRESS. The value of Iran’s export to Armenia increased 21% in the first quarter of the current Iranian calendar year (March 21-June 21), from the first quarter of the previous year, the spokesman of Islamic Republic of Iran Customs Administration (IRICA) said, Tehran Times reports.

Ruhollah Latifi said that Iran exported commodities worth $74 million to Armenia in the three-month period.

Iran and Armenia signed a memorandum of understanding at the end of the two countries’ 17th meeting of Joint Economic Committee in Yerevan in mid-May.

The MOU, which covers cooperation in areas of transit, transportation, facilitation of exchange of goods, energy, development of environmental cooperation in Aras area and removal of pollution from border rivers, as well as medical tourism, was signed by Iranian Energy Minister Ali-Akbar Mehrabian and Armenian Deputy Prime Minister Mher Grigoryan, who are the chairmen of the two countries’ Joint Economic Committee.

According to the officials, the purpose of holding the 17th meeting of Iran-Armenia Joint Economic Committee was the real and tangible development of relations between the two countries.