Possibility of direct Yerevan-Ankara trade: Who benefits, by how much?

The foreign trade turnover may increase up to 10 per cent and more upon the launch of direct trade between Yerevan and Ankara, the Armenian Economy Ministry said.

The ministry clarified that it does not have its own analysis in this regard, and the data are averaged and taken from a number of international organisations, Caliber.Az reports per Sputnik Armenia.

Thus, according to World Bank estimates, the export potential from Armenia to Türkiye is between 15 and 19 per cent of Armenia's GDP.

According to the German Economic Team, the opening of direct trade between Yerevan and Ankara will lead to an increase in the share of exports from Armenia to Türkiye to 6.7 per cent of total exports, while imports from Türkiye may reach 12.8 per cent (of total imports to Armenia).

Earlier, the publication wrote that in case of transporting goods along the new route Yerevan-Margara-Stambul (via Türkiye), a 40-ton truck (the weight of the vehicle plus cargo - ed.) will reduce the travel time by almost three hours, and fuel savings will amount to 75 litres (at today's prices for diesel fuel - 37.5 thousand drams or about $100).