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Armenia lifts the ban on import of Turkish goods

As a result of interdepartmental discussions, a decision was made not to extend the embargo on Turkish goods, the Ministry of Economy reported.

Over the past year, the ban on Turkish goods has had both positive and negative economic consequences, the Ministry said.

On the positive side it pointed to newly established or expanded production of light industry goods, construction materials, furniture, but the main negative effect of the embargo is the significant impact on inflation, which has been reflected especially in a number of consumer goods.

The Ministry said there have been a number of requests from Armenian businessmen to lift the ban on the import of Turkish goods. It noted that a number of businesses have started to produce goods to replace Turkish ones, and added that they will be consistent in ensuring the viability and competitiveness of such companies in the new conditions, assisting them with additional tools if necessary.

With the lifting of the ban on the import of Turkish goods, the principle of reciprocity is expected to create more favorable conditions for the export of Armenian goods, the Ministry of Economic stated.

Armenia had imposed the ban on January 1, 2021 in response to Turkey’s role in the 44-day war against Artsakh.

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