Armenian and Turkish businessmen sign memorandum on economic cooperation in Yerevan

Today, in Yerevan, within the Armenian-Turkish Business Forum, a bilateral Memorandum of Cooperation was signed, which stipulates lobbying the issues related to opening the land border. The document also envisages strengthening of business contacts.

The Memorandum was signed between the Union of Industrialists and Entrepreneurs of Armenia (UIEA) and the Turkish-Armenian Council on Business Cooperation. Under the agreement, the issues of opening the land border will be lobbied by the organizations-signatories of the Memorandum.

Presently, the meeting at the official level between Armenia and Turkey are in fact replaced by meetings of journalists, businessmen and NGO activists, Sergey Minasyan, Deputy Director of the "Kavkaz" Institute, told the "Caucasian Knot" correspondent. As to the benefits of development of business relations for both countries, the expert noted that the most important thing in the sphere of economy is opening of the border.

According to Arutyun Khachatryan, the economic observer of the Analytical Centre "Noyan Tapan" the opening of the border and normalizing of relations with the dynamically developing Turkey will bring economic benefits to Armenia.

Let us note here that in 2010 the trade turnover between Armenia and Turkey amounted to 212.1 million US dollars.