Armenia touts "unprecedented" economic partnership with EU

Armenia is the only country without EU candidate status or a Deep and Comprehensive Free Trade Area (DCFTA) agreement with the bloc to receive such economic benefits, according to the Armenian Ministry of Foreign Affairs and International Trade.

The ministry said the arrangement demonstrated the “unprecedentedly high level” of partnership between Armenia and the European Union, Caliber.Az reports via foreign media.

On September 2, the EU Council backed temporary trade-liberalisation measures for Armenian products, aimed at supporting Armenia’s economy after trade restrictions imposed by Russia disrupted its exports and transit routes.

The measures would suspend import duties on a broad range of Armenian goods and liberalise around 80% of Armenia’s exports to the EU. They would remain in force for two years and include safeguards to protect EU producers from adverse effects.

The measures are conditional on Armenia complying with EU rules of origin, administrative requirements and key commitments under the Comprehensive and Enhanced Partnership Agreement, including democratic principles, the rule of law and human rights.

The European Parliament is expected to approve the proposal without amendments during its September plenary session, after which the regulation will enter into force following publication in the EU’s Official Journal.

By Aghakazim Guliyev