BRUSSELS — Armenia will become the only country to receive such economic preferences despite neither holding EU candidate status nor having a Deep and Comprehensive Free Trade Agreement with the European Union, Foreign Ministry spokesperson Ani Badalyan said.
The EU proposal introducing autonomous trade measures for Armenian products has received final approval from the Council of the European Union.
Following its signing by the presidents of the European Parliament and the Council of the EU, the regulation will be published in the Official Journal of the European Union and will enter into force the following day.
“With this regulation, the EU will liberalize approximately 80 percent of Armenia’s exports to the EU by suspending import duties on a broad range of goods, including certain agricultural products. These measures will contribute to the diversification of Armenia’s foreign trade, expand access to the EU market for Armenian products, and further deepen Armenia-EU economic and trade cooperation. Once it enters into force, the preferential regime will remain in effect for two years,” Badalyan said.
On September 2, the Council of the EU approved the proposal without amendments. The European Parliament subsequently approved the document during its September 15 plenary session. On September 23, the proposal was also approved by the EU Council’s Committee of Permanent Representatives.
“With the adoption of this regulation, Armenia becomes the only country that, despite not having EU candidate status or a Deep and Comprehensive Free Trade Agreement with the EU, will receive such an economic preference. This once again demonstrates the unprecedentedly high level of the Armenia-EU partnership and is consistent with the spirit of the declaration of the first Armenia-EU summit and the Strategic Partnership Agenda,” Badalyan said.
