YEREVAN — If Russia closes its market to Armenian products, the European Union will open its doors to Armenian goods, providing access to its consumer market of 450 million people, European Commission President Ursula von der Leyen said on July 2 in Yerevan during an expanded-format meeting with Armenia’s prime minister.
Brussels will liberalize around 80 percent of Armenian exports to EU markets and provide financial packages to help Yerevan diversify its economy and withstand growing pressure from Moscow, von der Leyen said during a joint press conference following talks with Armenian Prime Minister Nikol Pashinyan in Yerevan.
Addressing regional challenges and Armenia’s economic vulnerabilities, the European Commission president emphasized the readiness of European institutions to support Armenia in reorienting its economic ties.
“I know that Armenia still faces significant economic pressure from Russia, which almost borders on economic coercion. But rest assured: when pressure builds on our partners, the European Union steps forward and takes action,” von der Leyen said.
As a practical step toward reducing Armenia’s economic dependence on Russia, the EU will introduce Autonomous Trade Measures for Armenia, which will eliminate customs duties on the overwhelming majority of Armenian goods.
“These measures will liberalize approximately 80 percent of Armenia’s exports to the European Union. With this, we can redirect products that are currently heavily dependent on the Russian market and send them to the European Union’s single market of 450 million consumers,” the European Commission president said.
She added that the measure would open Europe’s doors to almost the entire volume of Armenia’s fresh agricultural products and beverages, which had previously been exported mainly to Russia.
Prime Minister Nikol Pashinyan welcomed the decision, describing it as an exceptional opportunity for the country.
“Once this decision fully enters into force, Armenia will become the first country that does not have EU candidate status or a free trade agreement with the European Union to which the EU has applied this instrument in recent times,” Pashinyan said.
He expressed hope that the mechanism would be implemented as quickly as possible, taking into account that the harvest season in Armenia has already begun.
