BRUSSELS — The Council of the European Union has approved temporary trade-liberalization measures for goods exported from Armenia to the EU. The decision is intended to support Armenia’s economy amid challenges resulting from recent trade restrictions imposed by Russia.
The measures are expected to liberalize approximately 80 percent of Armenia’s exports to the European Union. At the same time, safeguards will be introduced to protect EU producers from potential adverse effects on the European market.
Commenting on the decision, Irish Minister for Foreign Affairs and Trade Helen McEntee, representing the presidency of the EU Council, said Europe stands with Armenia and its people as the country pursues reforms and closer cooperation with the European Union.
“Today’s decision sends a clear message: when we are confronted with economic coercion, the EU will respond. We will create new opportunities and stand by our partners,” McEntee said.
Under the new arrangements, import duties will be temporarily suspended on a broad range of Armenian goods, including certain agricultural products subject to tariff quotas.
The measures will remain in effect for two years after the regulation enters into force. They are expected to cover about 99 percent of fresh fruits, vegetables and plants currently exported by Armenia to Russia, as well as more than 91 percent of beverages and alcoholic products.
The EU said the measures are also intended to strengthen EU-Armenia trade relations in accordance with the Comprehensive and Enhanced Partnership Agreement (CEPA).
The preferential measures will be conditional on Armenia’s compliance with rules of origin, administrative cooperation with the EU, refraining from introducing new trade restrictions on EU imports, and respecting the fundamental provisions of CEPA, including the principles of democracy, the rule of law and human rights.
