ARMENIA WILL FEEL ECONOMIC EFFECT OF OPENING ARMENIAN-TURKISH BORDER NO SOONER THAN IN 3 YEARS, BAGRAT ASATRIAN SAYS

NOYAN TAPAN
SEPTEMBER 24, 2009
YEREVAN

YEREVAN, SEPTEMBER 24, NOYAN TAPAN. "Armenia will feel the economic
effect of opening the Armenian-Turkish border no sooner than in three
years. The first effect will be to the benefit of Turkey, whereas
Armenia will suffer losses because after the border’s opening,
Turkish commodities will enter our market more actively and under
better conditions," former Chairman of the Central Bank of Armenia
(CBA) Bagrat Asatrian expressed an opinion at the September 24 press
conference.

In his words, the danger is especially great in agriculture where
Turkish farm products whose cost price is lower may replace domestic
ones.

Nevertheless, according to B. Asatrian, this is the only way in the
global sense: the borders should open, even at the cost of losses. "It
is impossible to develop with a closed border," he said.