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Regional

Ankara's wish to create free trade zone with Customs Union has a dim prospect for Armenia

  • by Arthur Yernjakyan

  • Monday, July 21, 20:20

 Ankara's wish to create free trade zone with Customs Union has a dim prospect for Armenia, economist Vardan Bostanjan told Arminfo correspondent. 

"It is hard to comment on the prospects of such cooperation for Armenia, as the place and conditions of creation of this free trade zone are not clear. Moreover, the prospects oi Armenia's joining the Customs Union are not clear either, as its member-states put new conditions for us", - he said. 

The economist added that, as a rule, free trade zones are created at the territory favorable for business development in the context of infrastructures and taxes.

He also added that in this context, it is not obligatory for Turkey to officially open the border to Armenia. 

Turkish Economy Minister Nihat Zeybekci has put forward a plan to form a free trade zone with the Customs Union of Russia, Belarus and Kazakhstan, the Russian Economic Development Minister Aleksey Ulyukaev told journalists in Sydney. According to the Russian minister, his Turkish counterpart initiated the possible cooperation during the G20 trade ministers meeting in Australia. "We have agreed to create a working group and to begin a more detailed discussion of these possibilities and prospects in September," Ulyukaev said. Russia is currently Turkey’s second-largest trade partner after the European Union, with which the country now holds a Customs Union alliance. 

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