European Parliament approves temporary trade liberalization measures for Armenian products

The European Parliament has approved the European Commission’s proposal to introduce a system of trade measures for products made in Armenia, temporarily removing customs duties on a wide range of goods imported from Armenia into the European Union.

The proposal was approved by the European Parliament’s plenary session in Strasbourg with 583 votes in favor, 49 against and 39 abstentions.

Under the proposal, the EU will suspend customs duties on a number of Armenian products for two years. It will also establish duty-free import quotas for eight types of Armenian agricultural products, including grapes, apricots, cherries, peaches and cucumbers.

The next step is formal approval by the Council of the EU. The regulation will enter into force the day after its publication in the Official Journal of the European Union.

On September 2, the Council of the EU agreed to introduce 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.

The Council endorsed the Commission proposal without changes, clearing the way for the regulation to be swiftly adopted following the European Parliament’s vote.

According to the European Commission, the Russian restrictions have disrupted Armenia’s traditional supply chains and significantly limited the country’s access to its traditional export markets. The situation has had a particularly severe impact on small and medium-sized enterprises and agricultural producers, while also creating challenges for Armenia’s economic resilience.

The EU views the initiative as a temporary measure to support the Armenian economy and create additional opportunities for exporters to access the EU market.