Armenian Finance Minister Tigran Khachatryan and his Deputy Minister Avag Avanesyan travelled to Tehran yesterday for trade and banking talks with Iranian government officials.

The two Armenian officials met with Iranian Deputy President Masoud Mirkazem, Minister of Finance and Economic Affairs Ehsan Khanduzi and other high-ranking officials.

"Economic and political relations between Iran and Armenia have a decades long history. The basis of all ongoing negotiations is this long-term cooperation between the two countries, and the goal of increasing the level of trade and economic relations between Armenia and Iran to three billion dollars is evidence of these main foundations,” Khachatryan told his Iranian partners according to his office.

Referring to the 25% increase in the volume of economic exchanges between the two countries, Khachatryan said such transfers will increase by 40% this year.

"The government of Iran is seriously following the economic policies of the neighboring countries, with an emphasis on the Caucasus region, and I hope that the goal of 3 billion dollars of trade between our countries, which was discussed during the meeting between the Iranian president and the Armenian prime minister, will be realized this year,” Khanduzi said.