A large Iranian trade center, the first and largest permanent trade center of Iran abroad, spanning over 18,000 square meters, is set to open in Armenia’s capital, Yerevan, on October 1, serving as a gateway linking Iran, Armenia, and the Eurasian Economic Union (EAEU), reports the Iranian Mehr news outlet.
The inauguration will be attended by high-ranking officials, including Armenia’s Economy Minister and Iran’s Minister of Industry, Mines, and Trade. Representatives from the business community and leaders of major Iranian industrial enterprises will also participate.
Strategically located on the busy route between Yerevan and Swan Lake, one of Armenia’s most active areas, the center aims to develop business relations and leverage the private sector’s potential to achieve Iran’s export goals. It also seeks to strengthen Iran’s presence in regional markets, promoting domestic products amidst ongoing international sanctions. The center will feature businesses such as Iran Tobacco Company, national car manufacturer IKCO, Tehran-based Mihan Ice Cream, and various other local producers.
The 10,000-square-meter exhibition space includes 107 booths ranging from 33 to 146 square meters, along with a conference room for Business-to-Business (B2B) meetings, retail spaces, and areas for hosting events, conferences, and festivals. These facilities will accommodate industries such as pharmaceuticals, health, cosmetics, food, laboratory equipment, medical, industrial, agricultural, and construction.
Beyond exhibition services, the center will provide marketing and research support, facilitating entry into the lucrative markets of Armenia and the EAEU. Additional services include financial transactions, logistics and transportation, legal advice, tax and customs services, as well as customs, inventory management, financial and banking services, insurance, international marketing, investment advice, and company registration.
Commissioned in cooperation with the Trade Promotion Organization of Iran (TPOI), the center will serve as a hub for showcasing Iranian products and strengthening economic ties between Iran and EAEU countries.
The opening of this trade center follows 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, eliminates customs duties on nearly 90% of goods, covering more than 95% of mutual trade turnover.
The new trade center in Yerevan is expected to significantly expand Iran’s economic footprint in the region, providing a strategic platform for the country’s private sector to achieve its export ambitions.
