EU approves temporary trade liberalisation measures for Armenia

The European Union has approved temporary trade-liberalisation measures covering 80% of Armenia’s exports to the bloc, according to a statement by the Council of the EU.

The measures are aimed at supporting Armenia’s economy following trade restrictions recently imposed by Russia, Caliber.Az reports, citing the statement.

“These measures will liberalise around 80% of Armenian exports to the EU,” the document said.

The regulation provides for the temporary suspension of import duties on a wide range of Armenian products, including certain agricultural goods. The measures will remain in effect for two years after the regulation enters into force.

The proposal must be approved by the European Parliament for final adoption, with a vote expected during a plenary session in September.

By Jeyhun Aghazada