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Opening Of Armenian-Turkish Border Won't Affect Demand For Domestic

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  • Opening Of Armenian-Turkish Border Won't Affect Demand For Domestic

    OPENING OF ARMENIAN-TURKISH BORDER WON'T AFFECT DEMAND FOR DOMESTIC PRODUCTS

    ARKA
    Feb 2, 2010

    YEREVAN, February 2. /ARKA/. The opening of Armenian-Turkish border
    won't affect demand for domestic products, Araik Vardanyan, executive
    director of Trade Chamber of Armenia, said on Wednesday.

    He finds concern over possible dominance of Turkish goods on domestic
    market to the detriment of Armenian manufacturers groundless.

    On the contrary, this will drive prices for some goods down.

    Vardanyan said those goods feared to flood Armenian market after the
    opening of Armenian-Turkish border are being sold here throughout 10
    or 15 years.

    Armenian-Turkish border was closed in 1993 on Ankara's initiative.

    Turkey has set a number of pre-conditions for improving bilateral
    relations.

    Ankara demanded Armenia to stop seeking worldwide recognition of
    Armenian genocide fact.

    On October 10, Armenian and Azerbaijani foreign ministers - Edward
    Nalbandyan and Ahmet Davutoglu - signed the protocols on establishment
    of diplomatic ties and development of bilateral relations.

    The protocols will be sent to the two countries' parliaments for
    ratification. After ratification the countries will be able to open
    their border.

    According to National Statistical Service of Armenia, the country's
    trade turnover with Turkey shrank 36.9% in Jan-Nov 2009 to $159
    million.

    Exports from Armenia to Turkey totaled $1.1 million (0.2% of Armenia's
    export) after shrinking 37.9% over the period between January and
    November 2009, compared with the same period a year earlier.

    Turkey-made imports in Armenia totaled $157.9 million in Jan-Nov 2009
    (36.9% year-on-year reduction).

    Imports from Turkey's territory amounted to $141.4 million (30.8%
    decline) or 4.8% of Armenia's total import.
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