Opening of Turkish-Armenian border spells partial deliverance from monopolies

PanARMENIAN.Net - "Economically, both Armenia and Turkey will gain from rapprochement. Armenia could definitely benefit from economic relations with a large country Turkey is," RA ex-Premier Hrant Bagratyan said at a joint news conference with United Labor Party Leader Gurgen Arsenyan in Yerevan.



According to Gurgen Arsenyan, RA business entities' production capacity might only increase from gaining some part of Turkey's consumer market.



When questioned by reporters whether expansion of Turkish goods at the Armenian market is possible, Gurgen Arsenyan responded there's no grounds for concern as Armenia's production capacity, infrastructure and labor costs are lower than Turkey's. So in case of border opening, increase of production capacity and cost price optimization should be taken care of.



At the same time, he noted, Armenian oligarchs are the ones most concerned over border opening as their influence will significantly decrease in that case. "Opening of Turkish-Armenian border would spell at least partial deliverance from monopolies," ex-RA Premier summarized, adding that maintenance of current price level in Armenia is explained by monopolization and lack of competition.