Armenian Ministry of Economy: 'Closure of border with Azerbaijan and Türkiye reduces our foreign trade opportunities'

The closure of the border with Azerbaijan and Türkiye reduces Armenia's foreign trade opportunities and limits alternative routes for cargo transportation, the Ministry of Economy of Armenia said in response to the inquiry of Sputnik Armenia, Report informs.

Currently, the share of Türkiye in Armenia's foreign trade is 1%: "If direct trade between Yerevan and Ankara is started, this number can rise to 10% or more. The start of direct trade will increase the share of exports from Armenia to Türkiye to 6.7% of Armenia's total exports and increase imports."

The ministry emphasized that the closure of the border with Azerbaijan and Türkiye has a negative impact on Armenia's competitiveness in the cargo transportation market and makes this service more expensive: "Currently, Armenia ranks 96th among 186 countries in the Logistics Performance Index."