Iran’s accession to the Eurasian Economic Union will create a serious counterbalance to Turkey. This is what President of the Republican Union of Employers of Armenia Gagik Makaryan said during a conversation with Armenian News-NEWS.am.

“Since Iran is currently under sanctions, Turkey is reselling Iranian goods in its name. Most of the goods sold in Turkey are manufactured in Iran. Turkey doesn’t have the potential that it tries to show. Acceding to the Eurasian Economic Union will allow Iran to sell its products. Also, the United States is easing sanctions against Iran, and this will further strengthen Armenia’s positions. Iran’s accession to the Eurasian Economic Union will help increase trade with Iran from $400,000,000 to $1,000,000,000, and there are a lot of talks about this,” he emphasized.

Makaryan noted that this will help increase Armenia’s transit potential since Iranian goods may be sent to the member states of the Eurasian Economic Union through Armenian territory.

“In this case, Iran will be interested in establishing production in Armenia in order to facilitate the entry of its goods into the markets of third countries,” he added.