Based on the terms of the agreement, an Iranian company will export Knock-down kit (CKD) parts to Armenia and do the assembling in the country, News.am website reported.
The agreement was signed during a Sunday ceremony attended by senior officials from both countries, including Iranian and Armenian deputy economy ministers, he added.
The Armenian side has promised to facilitate all the paperwork and also attendance of the Iranian company in international fairs while providing technical, informational and legal support.
The Iranian company is seeking to gain a foothold in Armenia’s market at the first step and then export machinery to member states of Eurasian Economic Union.