TURKEY-ARMENIA ANNUAL TURNOVER $200 M

Information-Analytic Agency NEWS.am
Sept 21 2009
Armenia

According to unofficial data of Turkish Anadolu news agency,
Turkey-Armenia annual turnover totals U.S. $200 m. Basically, the trade
is carried out through the territory of Georgia. The annual export
of scrap metal reaches U.S. $4-5 m. Before the Armenian-Turkish
border closure in 1993, foreign trade with Armenia comprised 1%
(U.S. $4 m 148 thousand) of Turkey’s total foreign turnover.

Due to poor quality of Iranian goods, Armenians prefer Turkish ones,
Kaan Soyak, Armenian-Turkish Business Development Council Co-Chairman
told Anadolu. Earlier Armenian-Turkish trade "was conducted with the
assistance of Iranians and Georgians. Turkish and Armenian customers
and sellers were unfamiliar with each other. Our organization aims
to establish direct link between both countries’ customers and
sellers. For instance Armenians imported cups from Turkey. The buyer
from Armenia was ordering the cups and getting them from Georgian
company in Georgia. Thus, Georgian battened on both buyers and
sellers."

Soyak considers Turkey will import U.S. $400m goods to Armenia when
the border opens.

From: Emil Lazarian | Ararat NewsPress