The EU Council today approved temporary measures to liberalize trade with Armenia in order to support its economy after Russia recently imposed trade restrictions on the country.
The adopted measures will liberalize about 80 percent of Armenian exports to the EU by suspending import duties on a wide range of products, including certain agricultural goods.
The temporary preferential arrangement for Armenian products will be applied for two years, the Council announced.
Helen McEntee, Ireland’s Minister for Foreign Affairs and Trade, who currently chairs the EU, said that the Union is increasing its support for Armenia and Armenians who, “despite external pressures, have clearly chosen a pro-European path.”
“The (Council’s) decision will help Armenia’s economy, which has been affected by trade restrictions, and shows that our partners can always count on the EU,” she said.
The EU Council stated that the temporary measures will contribute to supporting and strengthening Armenia’s trade with the EU in accordance with the Comprehensive and Enhanced Partnership Agreement (CEPA).
The preferential trade comes with certain conditions and includes safeguard measures in case imports from Armenia adversely affect EU producers. It was approved by a vote in the European Parliament on the proposal of the European Commission.
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