Over the past six months, the total volume of imports from Turkey into Armenia dropped by around 70% and the composition of imported goods changed dramatically, Armenia's caretaker Minister of Economy Vahan Kerobyan told a cabinet meeting on Thursday, reporting on the decision to extend the ban on the imports of Turkish goods into the country for another 6 months.

He recalled that on 20 October 2020, the Armenian government made a decision to impose a 6-month ban on the imports of goods of Turkish origin.

According to caretaker minister, the decision was made on the basis of the relevant provision of the EAEU Customs Code, which stipulates that the EAEU member states may unilaterally apply non-tariff regulation measures in trade with third countries for a maximum period of 6 months.

Kerobyan said that the ban on the imports of Turkish goods came into force on December 31, 2020, thus the 6-month period expires on July 1, and stressed the need to extend it.

"The ban on the imports of Turkish goods should be viewed not only as an economic sanction against Turkey, but also in terms of security as the cessation of financing of the Turkish state treasury from Armenian sources," he said.