The government of Armenia announced earlier today (30 December) that it will lift its ban on imports from Turkey.
A post by the Ministry of the Economy confirmed that the decision was taken not to extend the ban on the import of Turkish products as of 1 January 2022, after “interagency discussions” held in recent weeks.
The statement noted that the ban had had positive economic consequences, including “a number of newly established or expanded manufacturing businesses in the light industry, construction materials, furniture and agricultural sectors”. However, the main negative consequences had been “its substantial impact on inflation”.
According to the ministry, the removal of the ban on imports is expected to create favourable conditions for the export of Armenian goods.
The embargo, which came into force at the begining of 2021, was justified by Armenia as a retaliation for Turkey’s support of Azerbaijan during the 44-day war.