With Armenian-Turkish border open, trade turnover to triple

PanARMENIAN.Net - Kaan Soyak, co-founder and co-chairman of the Turkish-Armenian Business Development Council (TABDC) said Turkish and Armenian entrepreneurs are awaiting normalization of relations between their two countries so they can go ahead with new projects that will benefit both sides.



One of these projects is the establishment of a qualified industrial zone between Turkey and Armenia for cooperation in the textile sector, according to him.



Noting that Armenia is active in the textiles business abroad, Soyak said they also have an effective marketing network in the United States.



"We can use this to the advantage of both sides. … In Turkey, we have machines and fabrics, and there is a labor force in Armenia. It is possible to produce cost-effective textiles and sell them in the United States without taxes and customs tariffs. With that aim, the TABDC has been working with U.S. Congressmen for years to map out the details of the project. But we are waiting for the improvement of Turkey-Armenia relations," Soyak said.



"Moreover, with the opening of the Armenian-Turkish border, the trade turnover between the two countries will reach $300 million, what is significant for southeast and east provinces of Turkey," he added.



Commenting in Armenia's inclusion in Nabucco project, he said, "As we all know, due to political problems between Armenia and Turkey and Armenia and Azerbaijan the Baku-Tbilisi-Ceyhan pipeline project bypassed Armenia and went through Georgia at an extra 20 percent cost."



"Inclusion of Armenia in the Nabucco project is definitely on the table. I assume parties are waiting for the normalization of relations between Armenia and Turkey to advance in this regard," he added, Today's Zaman reports.