ArmInfo.After the lifting of the embargo on the supply of Turkish goods, the volume of Turkey's exports to the Armenian market increased 10-fold to $76 million. Tatul Manaseryan, doctor of economic sciences, professor, head of the "Alternativv" research center, announced this at a press conference.
Giving an assessment of the government's decision to lift restrictions on Turkish imports, the economist called such a policy frivolous. He emphasized that, being a country with a small economy, the economy is subject to shocks due to such decisions. In particular, the expert noted that many businesses, due to the embargo on Turkish imports, made serious investments, including increasing credit burdens, to stimulate local production.
According to Manaseryan, after the lifting of the embargo, Turkish expansion is inevitable in the line of all goods. He noted that Turkey has a serious competitive economy, where branches of developed European and American companies operate, in contrast to which Armenia Armenia has nothing to present. "I'm not talking about the scale, the cost of production, the mechanisms of state assistance. And under these conditions, it is a short-sighted approach not to think about national and economic security," he said. At the same time, the economist did not rule out Armenia's dependence on the Turkish market in the future, just as it depends on the Russian market today. "And we will not be able to overcome this dependence with our ally (Russian Federation - ed. note), especially without local production," he concluded.
According to the Ministry of Economy, at the end of December 2021, as a result of interdepartmental discussions, it was decided not to extend the embargo on the import of Turkish goods. During the year, the ban on Turkish goods had both positive and negative impacts. Among the positive impacts, the department noted a number of new or expanded industries in the light industry, the production of building materials and furniture, as well as in the agricultural sector.
However, according to the experts of the Ministry of Economy, the main negative consequence of the embargo was a significant impact on inflation, which especially affected consumer goods. "There were also many appeals and requests from our businessmen to lift the embargo on the import of Turkish goods," the message says.
