Islamic Republic News Agency cited Jahangiri as saying that the two nations intend to establish a joint commission to boost bilateral ties.
Jahangiri told FARS News Agency in a joint press conference with Armenian Prime Minister Hovik Abrahamyan in Tehran that: "We have agreed to launch the third power transmission line and also build hydroelectric power plants for Armenia.
"The value of exchanges between the two countries is around $300 million; we export gas to Armenia and import electricity from that country, but there are other goods for exchange purposes as well."
Abrahamyan said: "We have a lot of work to do to develop and complete the joint projects of the two countries."
In recent years, Iran and Armenia worked together to strengthen and expand their relations particularly in the economic sector.
