Iran's President Masoud Pezeshkian has said breakthrough agreements were reached in all areas of discussion with Armenia, initially setting targets of $1bn in bilateral trade and $3bn in the next phase, IMNA reported on August 19.

The Iranian president's announcement comes amid his first official visit to the neighbouring northern country on August 19-20 as part of a long-awaited trade pact with the Orthodox Christian country, his speech and agreements also come days after Donald Trump's recent hosting of the Armenian and Azerbaijani leaders in the White House on August 8 to sign an historic peace treaty backed by the Americans called the “Trump Route for International Peace and Prosperity” (TRIPP) effectively ending the 30-plus year war between the two sides. 

Speaking at a joint meeting of economic activists from both countries in Yerevan, Pezeshkian said: "If we think a little more visionary and fully connect the capacities of the two countries, including the regional highways of both countries, and economic investments and activities proceed according to forecasts and agreements, reaching the figure of $3bn in trade exchanges and even beyond that, reaching the level of $30bn trade will not be out of reach."

The president apologised for his delay in attending the meeting, explaining that discussions with Armenia's Prime Minister extended beyond the scheduled time because they were working to remove obstacles and problems and facilitate activities for economic actors.

"If we had come here without those discussions and debates, perhaps all the results we expected would not have been achieved, but now I say with pleasure and joy that in all areas of discussion with the Armenian side, breakthrough and effective agreements have been reached and the ground for the activity of traders, investors, industrialists and other economic actors is fully prepared," Pezeshkian said.

He noted that leaders of both countries have taken the first step towards achieving these visionary goals, and now it is the turn of economic activists to make the best use of the prepared platform.

Referring to Iran's crucial global position as a geopolitical crossroads, Pezeshkian said: "Armenia is also on an important path of communication and connection with regional countries, and synergising these capacities will be very helpful. I hope that with the interaction and empathy that exists between the two countries today, we can help further expand relations in economic, commercial, cultural and political fields."

The president stressed that this empathy and interaction between the two countries can remove any obstacle from the path of expanding interactions.

"We are not neighbours for a day or two, but have been neighbours with each other for a lifetime and have roots in a common history, culture and civilisation. Our relationship should be different from the relationships of other countries with each other," he said.

Earlier in the day, the Iranian president and the Armenian prime minister signed ten memoranda of understanding across various sectors, according to the Iranian presidential website.

The agreements span political, cultural, social, tourism, industrial, educational, urban development, road infrastructure, the arts, and healthcare. President Pezeshkian and Armenian Prime Minister Nikol Pashinyan also signed a joint statement, reinforcing their commitment to closer cooperation.

Iran's President Masoud Pezeshkian has said that Iran-Armenia borders will continue to be borders of friendship and connection between the two peoples, as they have been throughout past years, IntelliNews reported earlier on August 19.

Speaking at a joint press conference with Armenia's Prime Minister, Pezeshkian said: "Our borders throughout past years have been borders of friendship and a link connecting our peoples and will continue to be so. From Mount Ararat (now in Turkey) to the Iranian plateau, the breeze of history has carried the scent of poetry, music and hospitality to both sides of the border."

He added: "We consider the peace and prosperity of our neighbours, including Armenia, aligned with our interests and believe that convergence and attention to friendship components is the most important factor for security, stability and movement towards development."

He continued: "We have always openly supported Armenia's territorial integrity, and this is the consistent and unchanging policy of the Islamic Republic of Iran; therefore, we oppose any resort to force or threat to use it in the region and believe that politics and governance in the Caucasus region should remain Caucasian."

The president noted: "Outsourcing the resolution of Caucasus issues to extra-regional forces causes the region's conditions to become more complicated," referring to the recent August 8 Trump signings.

Pezeshkian stressed: "The Islamic Republic of Iran's position has always been non-acceptance of any changes in international borders in the Caucasus region and we believe this region should not become an arena for geopolitical competitions."

Earlier, Armenia’s Deputy Foreign Minister Vaan Kostanyan had also visited Tehran to address the issue. “I came here with the message that Armenia has considered Iran’s concerns, and these sensitive matters were taken into account during preliminary negotiations on the Trump Route,” he stated in an interview.

Following his visit to Armenia, President Pezeshkian is scheduled to travel to Belarus. He praised Minsk’s consistent support for Iran in international forums and highlighted the potential for expanded cooperation in trade, industry, and culture. Such partnerships, he said, could help overcome existing limitations and foster mutual growth and prosperity.