June 24, 2021 – 18:19 AMT
PanARMENIAN.Net – Armenia has extended the ban on the import of goods from Turkey for six months, Minister of Economy Vahan Kerobyan told a Cabinet meeting on Thursday, June 24.
Kerobyan noted that the embargo, which entered into force on January 1, 2021 and expires on July 1, is now being extended for 6 months. He said the authorities impose the ban for such a short period of time to meet the requirements of the Eurasian Economic Union.
Under the EAEU treaty, such temporary measures are valid not more than 6 months from the date of their introduction.
Kerobyan noted that according to his Ministry’s estimates, imports from Turkey have dropped by about 70% and chiefly consist of raw materials and intermediate goods such as building materials, knitted fabrics (for the operation of local clothing factories), as well as leather (for shoe production). Almost no finished goods are delivered, he added.
The embargo was first imposed in October 2020 as Turkey openly supported Azerbaijan in the war against Karabakh and provided large-scale military support to Baku. Armenia used to import Turkey-made products worth $250-270 million a year.