If the Armenian-Turkish border is opened, Armenia can achieve a 30% economic growth in just two to three years, claims the Armenian Minister of Economy, citing a number of international studies.
Kerobyan pointed out that Turkish citizens had never been banned from investing in Armenia, while the same cannot be said of Armenian citizens.
“The Turkish market is closed to Armenian citizens and businesses. The opening of the borders gives more opportunities to us than to Turkish citizens and businesses, who can still invest unhindered,” said Vahan Kerobyan.
It is impossible to have a developed industry without railway communication, the minister said, referring to the restoration of the railway communication with Azerbaijan.
“And this will allow Armenia to have railway communication with Russia, Iran, and Central Asia,” he stressed.
Armenia has to spend about $200 million to restore railway communication with Azerbaijan.
According to Kerobyan, if free trade is established with Azerbaijan, it will not only not harm Armenian businesses and citizens, but also “help them enter larger markets”.