According to official statistics, average trade turnover between Armenia and Iran was around $ 200 million US in 2008 and 2009 and has totaled to $122 million US in January – August 2010.
Armenia mostly exports food and raw materials to Iran and imports fuel, fertilizers, chemical products, etc.
Admittedly, the two countries have implemented and are implementing a range of major joint economic projects, including the construction of gas pipeline, a hydroelectric plant on Meghri river, road and rail construction projects.
However, the projection of $1 billion sounds simply fantastic.
Press Release Manipulations
One factor inspires with hope, that $1 billion goal can be easily reached by the end of this month.
In an official press release sent yesterday, the Armenian Government said trade turnover between the two countries is about $200 million. Another press release sent today estimated the figure at $400 million.
Hence, I have concluded, that if such doubling of figures continues, Armenia and Iran will surpass the $1 billion mark within two more official press releases :)))))