With Armenia-Turkey border opening, the import from Turkey will increase by 50%, whereas Armenia’s export — by 38%. Vardan Ayvazyan, the Head of NA Standing Committee on Economic Affairs stated, speaking at the parliamentary discussions on “Initialed Protocols and Armenian-Turkish reconciliation process.”

According to him, GDP will increase by 2.7%, while trade turnover will total U.S. $1bln. Besides, Armenia will have a chance to access larger, compared to Georgian, Turkish ports.

Meanwhile, Ayvazyan warned against expansion of Turkish products in Armenia, as it is cheaper due to the number of various privileges for producers, that also ease their taxation. Therefore, the economist offered to wonder of tactics to employ under the current situation, wait-and-see or undertake actions.