Papoyan: Baku and Yerevan will be able to complement each other in foreign trade

Armenian Economy Minister Gevorg Papoyan has asserted that Azerbaijan and Armenia would function as trade partners rather than competitors in international markets.

The minister revealed his upcoming co-authored publication examining Armenian-Azerbaijani trade prospects.

"In particular, we have shown that a significant part of Azerbaijan’s exports meets our import needs, and vice versa. Thus, we do not compete, but we can sell many goods to each other",

Gevork Papoyan said.

Papoyan also commented on the trade between Armenia and Türkiye. If last year the trade turnover amounted to $336 million, then it will increase to $750-800 million per year in the future, the minister said.

According to the official, it is more profitable for Armenia to purchase a number of goods, including medicines, electrical equipment, and others, from Türkiye, both as raw materials and finished goods. Reciprocal supplies of similar goods could also be established.