Turkey only needs to invest $2.5 billion in Armenia’s economy to take control of it
YEREVAN, 14 December. /ARKA/. In case of establishing trade ties with Turkey, Armenia’s economy will be threatened by Turkish expansion, claims Mourad Papazian, co-chairman of the Coordinating Council of Armenian Organizations of France (CCAF) and member of the ARF Dashnaktsutyun Bureau.
‘After normalization of relations with Yerevan, Ankara only needs to invest $2.5 billion in Armenia’s economy to establish full control over it,’ Papazian said Saturday speaking at an ARF-organized conference titled “Armenia-Turkey Relations: Threat or Opportunity” in Yerevan.
In his opinion, at the first stage the Armenian market will be filled with cheap Turkish goods, which will inevitably displace Armenian producers; the next step will be to buy up local companies and enterprises at throwaway prices.
Turkish investors will start developing such key areas as the hotel and tourism business, and then they will take over the banking sector,’ says Papazian.
In his opinion, the $2.5 billion investment would be enough for Turkey to take control of a significant part of Armenia’s economy, which in turn would jeopardize its independence.
Such a change, according to Papazian, would not only lead to increased economic dependence, but also to a deterioration in relations between Armenia and its vast diaspora.
‘This may provoke mass emigration. Thus, presumably, up to 500,000 people could leave the country….. And I am not talking about recognizing the Armenian Genocide (by Turkey) or paying compensation. Now we are talking about the future of the Armenian people living in Armenia. Turkey does not seek peace. Its goal is to subjugate and weaken Armenia,’ Papazian asserted.
He also expressed concern that such a policy is carried out with the consent and assistance of the Armenian authorities. He added that the search for ways to normalize relations with Turkey is necessary, but these decisions should take into account the interests of the Armenian people and guarantee their security.
Although Turkey was one of the first countries to recognize Armenia’s independence after the collapse of the Soviet Union, the countries do not have diplomatic relations.
Turkey closed its border to Armenia in 1993 in solidarity with Azerbaijan, which was embroiled in a conflict with Armenia over Nagorno-Karabakh.
In December 2021, Armenia and Turkey appointed special envoys to normalise relations, who have held several meetings so far.
In 2022, Armenia and Turkey agreed to open the land border to third-country nationals and diplomatic passport holders. Following this agreement, Armenia started the reconstruction of the Margara checkpoint on its side. The renovation has since been completed. However, the agreement has not yet been implemented.
