Minister: Armenia-EU trade talks make slow progress

Negotiations between Armenia and the European Union over a new preferential trade regime are progressing at a slow pace, said Armenia's Minister of Economy Gevorg Papoyan.

The previous preferential trade arrangement, known as the Generalised Scheme of Preferences (GSP+), was in effect until the end of 2021 and allowed for the elimination of tariffs on a range of non-raw material goods, Caliber.Az reports per Armenian media.

However, this regime ceased to apply in 2022 when Armenia was classified as a middle-income country based on its GDP per capita.

Armenia is currently negotiating a new arrangement termed Autonomous Trade Measures (ATM).

However, European partners have indicated that full implementation of this regime may not be feasible, leading to discussions about its partial application.

By Aghakazim Guliyev