Armenia may extend ban on imports of Turkish goods

Armenia may extend ban on imports of Turkish goods

Armenian Minister of Economy Vahan Kerobyan said the ban on imports of Turkish goods may be prolonged.

"From an economic point of view, we believe that the ban should be extended if political or other priorities do not interfere with it. If we have already entered this river, then it makes sense to extend the embargo," Kerobyan said on Wednesday in parliament.

In his words, the Armenian economic entities had sufficient time to reorient themselves to other markets. "We are ready to defend our local producers as long as it takes so that they can strengthen their positions in the market," ARKA cited him as saying.

At the same time, he noted that the Ministry of Economy is leaning towards an "open economy", however, in these market conditions, taking into account the decisions already made, the best option is to extend the ban for at least another 6 months.

Armenian government's ban on import of Turkish goods has come into force on January 1, 2021.