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Armenian and Iranian Presidents have exchanged views on the transport corridor project linking the Persian Gulf and the Black Sea during the high-level negotiations held in Yerevan, as the Iranian President Hassan Rouhani is paying official visit to Armenia on Wednesday.

President Serzh Sargsyan said at a joint press statement that the project implementation would facilitate the international transport of the goods with the Iranian products gaining an opportunity to enter the European market for minimal transport costs as well as involving transit of the goods from other states.

“It will be not only the shortest and safest transit route through Armenia, but also stimulate the growth of trade turnover between our countries,” Armenian President noted.

Serzh Sargsyan next informed that regional integration processes were discussed during the negotiations, and the opportunities were highlighted provided by Armenia’s membership to the Eurasian Economic Union. In the President’s words, the electricity and gas swap deal continues between Armenia and Iran, according to the reached arrangement.

“As a result of the swap deal, considering also the necessary volumes of supply in energy carriers in Armenia, as well as following the agreement reached in the four-lateral negotiations earlier in Yerevan, we spoke of the launch of Iran-Armenia-Georgia- Russia power transmission line,” President Sargsyan said.

He next informed works are underway toward improving business environment and investment regulations for the economic entities of the two states.

“In this respect I would like to stress the importance of the lifting of visa requirements for the nationals of our countries. I am confident the rise of mutual recognition between our peoples will contribute to the deepening of trade and economic links of our countries,” stated President Sargsyan.