Armenia signals readiness for economic engagement with Türkiye

Armenia’s Minister of Economy, Gevorg Papoyan, has said he would welcome Turkish investment in the country if relations between Yerevan and Ankara are normalised and the border is reopened.

Papoyan noted that he would also support Armenian investments in Türkiye’s economy, stressing that cooperation with neighbouring countries is essential for a viable state, Caliber.Az reports, citing Armenian media.

“Without economic cooperation with our neighbours, it’s impossible to have a sustainable country,” he told journalists.

Papoyan added that several Turkish companies, mainly clothing brands, have been present in Armenia since 2012.

Armenia-Türkiye relations have been strained since 1993, when Ankara closed its border in solidarity with Azerbaijan during the Karabakh War.

The 2020 Second Karabakh War shifted dynamics, with Türkiye backing Azerbaijan’s victory. Post-war, Armenia sought regional reintegration. In 2021, both nations appointed special envoys, holding six rounds of talks by 2025 without preconditions. A temporary border opening in March 2025 for Syrian aid signalled progress.

The U.S.-brokered Armenia-Azerbaijan peace deal in August 2025 further boosted prospects for normalisation, aligning with Armenia’s “Crossroads of Peace” initiative to transform itself into a regional trade hub, connecting Europe, Asia, and the Middle East.

By Aghakazim Guliyev