YEREVAN, February 10. /ARKA/. Armenia and Iran are set to expand cooperation in the field of insurance, the press service of the Armenian ministry of economic development and investments said following a meeting between minister Suren Karayan and the director general of the Central Insurance Company of Iran Abdolnaser Hemati.

Karayan was quoted as saying in a ministry press release that the development of the insurance institution may have a serious impact on the strengthening of economic relations, trade and cooperation between the two countries.

Hemati in turn stressed that the high-level bilateral economic and political relations are a good basis for the development of cooperation in the field of insurance.

The head of Armenian Export Insurance Agency Vazgen Abgaryan recalled that the agency and the Iranian Foundation for Export Guarantees signed a memorandum on cooperation in 2015.
Abgaryan suggested deepening cooperation in the field of reinsurance, pointing to the possibility of transactions in reinsurance of export credits.

The Iranian side, in turn, suggested signing a tripartite memorandum, involving also the Iranian Central Insurance Service. -0-