EU Expects Trade Preferences for Armenian Products to Take Effect Soon, Ambassador Says

YEREVAN — The European Union expects newly approved trade preferences for Armenian products to take effect very soon, EU Ambassador to Armenia Vassilis Maragos said in Vanadzor, emphasizing that relations between Armenia and the European Union have never been closer.

“Relations between the European Union and Armenia have never been this close, and the European Union is working to make them even more tangible,” Maragos said.

Referring to restrictions imposed on Armenian exports by Russia, the ambassador said the EU has increased its trade support for Armenia.

“Following some very harsh, coercive measures taken by Armenia’s important northern partner against exports to that country, the EU has increased its support for trade,” Maragos said.

He highlighted trade preferences proposed by Brussels that would allow numerous Armenian products to enter the European Union market without customs duties.

Under the EU’s proposed trade preferences, several hundred categories of Armenian goods would become eligible for duty-free access to the European market. Brussels offered the measures to Armenia in light of Russian restrictions, with the aim of helping Armenian exporters find new markets.

The preferential trade regime is expected to remain in effect for a limited period and cover a range of Armenian exports.

“This week, we saw the European Parliament vote in favor of this proposal, and we expect it to be formalized very soon,” Maragos said.