ArmInfo.Armenia has extended the embargo on the import of Turkish goods. The corresponding decision was approved at a meeting of the Cabinet of Ministers on June 24. Presenting the project solution, acting Minister of Economy Vahan Kerobyan recalled that on October 20, 2020, the Armenian government approved a decision to introduce a 6-month embargo on the import of goods of Turkish origin. As explained by the acting Minister, this was due to the fact that according to the relevant provision of the treaty "On the Eurasian Economic Union", one country, without agreement with the rest, cannot prohibit imports from third countries for a period of more than 6 months.
The embargo, which came into effect on December 31, 2020 and expires on July 1, is now extended again for 6 months. This measure, according to Kerobyan, should be considered not only as an economic sanction against Turkish goods, but in the context of national security - "in order to stop financing the Turkish state treasury from Armenian sources."
Kerobyan noted that, according to the ministry's estimates, imports from Turkey decreased by about 70%. The structure of imported goods has also drastically changed: now mainly building materials, knitwear, and genuine leather are imported.
Earlier ArmInfo reported that the Armenian government is considering the possibility of extending the ban on the import and sale of goods of Turkish origin. According to Kerobyan, this is due to the fact that, despite the restrictions on the import of Turkish goods into the country, they are still sold at the local market, under the pretext that stocks purchased earlier are being sold. Thus, as pointed out by the Acting Head of the Ministry of Economy, unequal competitive conditions are created for other importers.
To recall, the ban on the import of Turkish goods was imposed after Turkey began to provide military support to Azerbaijan during the war in Karabakh in the fall of 2020. In previous years, Armenia exported goods from Turkey for $ 250-270 million per year.
