IMF SPECIALISTS SAY OPENING OF ARMENIAN-TURKISH BORDER WILL LEAD TO COMPETITIVE GROWTH OF ARMENIAN ECONOMY

ArmInfo
2009-09-09 12:43:00

ArmInfo. Opening of the Armenian-Turkish border will contribute to
competitive growth of Armenian economy, IMF Resident Representative
Nienke Oomes told media on Wednesday.

She said that low competition is reflected in import of goods into
Armenia as well as in the blockade of roads by the neighboring
states. IMF believes that opening of the Armenian-Turkish border
will create additional opportunities to stiffen competition with
Turkey as well as will become a good impetus for Armenian economy,
IMF Resident Representative said.

National Statistical Service of Armenia reported that commodity
turnover between Armenia and Turkey in 2008 totaled $269.5
million. Credit balance in favor of Turkey made up $127 million. The
commodity turnover is mainly via territory of Georgia because of
closed Armenian-Turkish border.

World Economic Forum’s Global Competitiveness Report 2009-2010 ranked
Armenia the 97th out of 133 states involved in the report. Armenia’s
position was left unchanged as compared to the rating for 2008- 2009.

Azerbaijan was up from the 69th to the 51st position. Georgia was
left the 90th and Russia was down 121 positions to the 63rd.