YEREVAN. – Armenian businessman Onno Kolukısayan, who is engaged in the production of bags in Turkey for 34 years, has decided to move his business to Armenia.

“It will not be good in Turkey by the day, the business thinking is not good, the Syrians have eliminated the market, and there are problems for Armenians in this domain,” he told reporters on Friday in Armenia’s capital city of Yerevan. “In addition, we have friends abroad, who were always saying, ‘Why don’t you set up production in Armenia?’ [So,] we decided to move the business.”

Kolukısayan, who is attending the first Pan-Armenian Forum of Young Businessmen, founded his production in Istanbul with his brother. Their products are exported to Italy, US, and the Netherlands.

The businessman has not yet studied Armenia’s market. Nonetheless, he is not afraid of the risks because, as he noted, his products have always been at risk in Turkey. Furthermore, he did not use his Armenian name so that there would not be difficulties.

“We are already at risk in Turkey for being Armenian,” added Onno Kolukısayan.