EU Council adopts temporary trade-liberalization measures for Armenian products
The Council of the EU today formally adopted temporary trade-liberalization measures for Armenian products to support Armenia's economy following trade restrictions recently imposed by Russia.
These measures will liberalize around 80% of Armenian exports to the EU, suspending import duties on a broad range of products, including certain agricultural goods, the Council of the EU said in a press release.
This temporary preferential arrangement will apply for a period of two years.
These temporary measures will contribute to supporting and strengthening trade flows from Armenia to the EU, in line with the objectives of the Comprehensive and Enhanced Partnership Agreement (CEPA). The preferential arrangement comes with certain conditions and includes safeguard measures to protect the EU market if imports adversely affect EU producers.
This final adoption follows the positive vote in the European Parliament plenary session on the Commission’s proposal without amendments.
“We are stepping up our support for Armenia and its people, who have clearly chosen a pro-European path in spite of foreign pressures. Today's decision will help Armenia’s economy hit by trade restrictions and shows that our partners can always count on the EU,” said Helen McEntee, Minister for Foreign Affairs and Trade of Ireland.
The regulation will now be signed and published in the Official Journal of the EU. It will enter into force the day after publication and will apply for two years from entry into force.
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