Speaking after a meeting with Iranian Oil Minister Mohsen Paknejad, Armenian Minister Davit Khudatyan said the two sides reviewed areas of cooperation and agreed to form the specialized working group.

Khudatyan said the group will be established as soon as possible and begin work to strengthen cooperation in all areas related to the responsibilities of the two ministries.

He noted that Iran and Armenia already cooperate in the energy sector, with Armenia importing Iranian petroleum products and using Iranian bitumen in road construction projects.

Khudatyan said energy ties between the two countries are currently based on a gas-for-electricity exchange, under which Armenia receives Iranian natural gas in return for electricity exports to Iran. He added that Yerevan is interested in increasing the volume of bilateral energy trade and expanding cooperation further.