Armenia expresses support for Turkish investment amid thaw in relations
YEREVAN
Armenian economy minister has expressed strong support for Turkish investments in Armenia, highlighting their potential to foster sustainable peace between the neighboring countries.
Speaking at a press briefing at the parliament on Oct. 13, Gevorg Papoyan noted that Turkish companies have been active in Armenia since 2012 and 2013, particularly in the retail clothing sector.
“I genuinely endorse these investments, as any enduring peace between neighboring nations must be bolstered by financial contributions. Once borders are opened, it is reasonable to expect investments from Türkiye and we must also make investments there,” Papoyan said.
The minister emphasized that such cooperation is crucial for Armenia’s viability as a state.
He also mentioned the possibility of a Turkish-brand hotel opening in Armenia by 2026, without providing further details.
On the topic of Armenian investments in Türkiye, Papoyan stated that Armenia’s main goal is to export its products there.
He highlighted the benefits of using Turkish ports and road networks, which could significantly reduce transportation costs and enhance the competitiveness of Armenian goods.
Papoyan clarified that Armenia’s cooperation under the Zangezur corridor project remains exclusively with the United States, but welcomed the idea of other foreign brands, including Turkish ones, establishing operations in Armenia.
The remarks come amid broader efforts to normalize relations between Türkiye and Armenia. Last month, a Turkish delegation led by Ambassador Serdar Kılıç made a rare visit to Armenia via the Alican checkpoint, marking the first land crossing by envoys in decades. In addition, Armenia recently removed the image of Mount Ağrı from passport stamps issued at border crossings, while Turkish Airlines announced plans to launch direct flights to Armenia.
