“The border opening will soon give serious opportunities for export, investments as well as Armenia’s transformation into a regional center.”
The opening of the Armenian-Turkish border will bring great economic benefits to Armenia and the Armenian people, said the head of the IMF mission in Armenia, Mark Lewis.
“Armenia has no sea outlet, while close borders for such a country seriously complicates external trade, raises transport costs, shakes the competitiveness of the country and raises costs of living for people”, he told a news conference Wednesday.
In this connection, Lewis explained that the first effect of opening borders will be the reduction of transport costs and people’s costs of living.
“The imported consumer goods will get cheaper which will raise real consumption and improve living conditions”, he said.
In addition, according to Lewis, this will raise the competitiveness of goods exported from Armenia.
“The competitiveness will also rise for the enterprises that will have to compete with the imported goods”, he added.
Head of the IMF mission noted that the border opening will be very positive.
“The border opening will soon give serious opportunities for export, investments as well as Armenia’s transformation into a regional center”, Lewis added.
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