The opening of the borders between Armenia and Turkiye will lead to high economic growth. The Turkish market and the unblocking of communications will provide ample opportunities for the transportation of goods to the markets of this country and the countries of the Middle East, Armenian Minister of Economy Vahan Kerobyan said in an interview with Armenpress, Report informs.

The minister stressed that if geopolitical circumstances develop in favor of Armenia, then all economic entities of the country will feel a positive effect.

He said that there are also risks for local producers, but the government is working seriously in this direction.

“We are providing unprecedented assistance to companies in the manufacturing industry and a number of other industries, so that they, using today’s economic growth opportunities, can modernize, digitalize their business and become high-performing and competitive companies,” he noted.

Kerobyan said that according to last year’s data, transactions worth $56 billion were financed, resulting in 901 contracts for the purchase of new business equipment.

There are no diplomatic relations between Armenia and Turkiye, and the border has been closed since 1993 at the initiative of Ankara.

In December 2021, Armenia and Turkiye appointed their special representatives for negotiations on the normalization of bilateral relations. From the Armenian side, it was the vice-speaker of the parliament Ruben Rubinyan, and Ankara is represented by the former ambassador to the US Serdar Kilic.