Armenia Plans to Extend Ban on Turkish Products Import

The Armenian Ministry of Economy has proposed to the government to extend the ban on the import of final consumption goods of Turkish origin beyond December 31. The ban aims to support the establishment of local production, while gaps are filled with imports from various markets. This was announced in an interview with Armenpress by Deputy Minister of Economy Arshak Aslanyan.

The ministry has conducted discussions and analyses regarding the economic efficiency of the ban, the complexities involved, and the potential positive outcomes it might yield. “We believe that the ban on the import of Turkish products for final consumption is reasonable and should continue. Therefore, the Ministry of Economy has proposed to reaffirm this policy and extend the duration of the ban for another six months,” said Aslanyan, adding that the import of equipment used in production and intermediate consumption goods will continue to be maintained.

Before the ban, the turnover of Turkish goods in the Armenian economy was significant, amounting to about $260 million annually. As of September this year, it has only reached $20 million through permitted imports of production materials. Furthermore, predictions indicated that the economy would stagnate due to the import ban on Turkish products have not materialized.