The Armenian authorities are considering extending the ban on Turkish goods, Deputy Minister of Economy Avag Avanesyan told reporters on Monday, March 22, per PanArmenian.
Avanesyan said if the measure is approved, the ban will be valid for another six months, based on the regulations of the EAEU, Sputnik Armenia reports.
“At the moment, it is hard to assess the damage caused by the embargo to the economy of our country. In any event, we are not seeing catastrophic consequences. In addition, the impact of the coronavirus epidemic is so great that it eliminates the impact of other factors,” the Deputy Economy Minister said.
According to him, the goods that are no longer imported from Turkey can either potentially be produced in Armenia or exported from other countries at more favorable tariffs. He said the Ministry of Economy is studying the market and is in touch with the private sector.
Avanesyan also noted that investments into the country’s economy were negatively affected by the pandemic and the war. At the moment, a number of investment programs are under discussion, he added.