Responding to ARKA news agency’s question about why his visit to Armenia, previously announced by Prime Minister Nikol Pashinyan, did not take place, the renowned economics professor at MIT declined to elaborate.
“It’s complicated, so let’s move on to the next question,” Açemoglu said in Almaty on the sidelines of the EDB’s 20th anniversary forum.
In May 2018, shortly after assuming office as prime minister, Nikol Pashinyan announced that he had invited Daron Açemoglu to visit Armenia and assist the country in its economic recovery and development. At the time, the prime minister noted that the economist had accepted the invitation, but the visit never took place.
On Armenia’s Advantages
Speaking about Armenia’s prospects, the renowned economist stated that the country possesses different competitive advantages than most countries in the region.
“Armenia is very different from other Central Asian countries because it lacks natural resources, so its comparative advantage is different. I believe digital transformation creates new opportunities for Armenia,” he stated.
At the same time, he noted, the small size of the economy, limited domestic market, and isolation from natural markets remain serious challenges.
“However, Armenia shares some general trends characteristic of the region,” Acemoglu added.