The State Will Assist Those Looking to Establish Production to Replace Turkish Goods

The state is ready to assist companies that wish to establish production of goods to replace Turkish products in Armenia. This was announced by the Minister of Economy Vahan Kerobyan during an interview within the framework of 'Perspective', referring to the decision to impose a ban on the import of Turkish goods.

'We must benefit from that decision. We need to understand how to maximize the economic effect of that decision. The economic effect lies in helping as many companies as possible to localize the products that were previously imported from Turkey, meaning to establish production,' Kerobyan said.

He noted, however, that it is almost impossible to do this in six months, but it is feasible within a year. 'In this regard, we are ready to discuss and assist those companies that wish to establish production of goods to replace Turkish products in Armenia,' Kerobyan added, noting that there are already many such companies.

According to the minister, the state will do this through incentives, sometimes also through capital support. He pointed out that the discussion is not limited to just Turkish products, but also concerns markets that are being transformed as a result of EAEU regulations. For instance, the customs duty on poultry imports will significantly increase next year. The state has set a goal to ensure that Armenia produces 75-80% of its poultry meat next year, instead of just 25%.

Moreover, according to Kerobyan, there is interest from the current 'players' in the sector.

Regarding the issue of unblocking transport infrastructures, the minister stated that they are studying what economic benefits could arise from such unblocking, as well as how it should occur according to a roadmap that ensures both security and the political agenda, and of course the economic agenda as well.