On September 5, the Ministry of Economy of Armenia stated that the share of trade turnover between Armenia and Turkey in Armenia's foreign trade is currently only one percent. "In case of launching direct trade between Yerevan and Ankara, this indicator may increase to 10% and more," the information added. 

The ministry specified that they do not have their own analysis on this issue, and the data are averaged and taken from several international organizations. "For any landlocked state, neighboring countries are not only markets for trade but also transit routes to third countries," the Armenian Ministry of Economy added.

The ministry stressed that the closure of the border with two neighboring countries (Azerbaijan and Turkey) reduces Armenia's foreign trade opportunities and limits alternative routes for cargo transportation. "It also negatively affects the country's competitiveness in the market of cargo transportation and leads to its high cost," the ministry said.

Armenia currently ranks 96th out of 186 countries in the "Logistics Efficiency Index" rating. Armenia's Ministry of Economy does not rule out that the overland route through Turkey may lead to a decrease in the country's cargo transportation volumes through Georgia.