Good News for Armenia: EU to Liberalize 80% of Exports

The EU Council has today approved measures for the temporary liberalization of trade in Armenian goods, aimed at supporting Armenia's economy following the recent trade restrictions imposed by Russia.

"As a result of these steps, around 80% of Armenian exports to the EU will be liberalized. The granted preferential regime will operate under specific conditions and also includes protective mechanisms to safeguard the EU market from possible negative impacts if imports harm local producers. The Council has approved the Commission's proposal without any amendments, paving the way for the swift adoption of the regulation, once it is also approved by the European Parliament in its unchanged form.

The regulation is set to temporarily suspend import tariffs for a wide range of Armenian goods, including certain agricultural products subject to tariff quotas. These measures will apply for a two-year period following their entry into force and will encompass nearly 99% of fresh fruits, vegetables, and plants exported from Armenia to Russia, as well as over 91% of beverages and alcoholic drinks.

The proposed regulation aims to support Armenia as the trade restrictions imposed by Russia have hindered Armenian exports and transit routes. It also seeks to strengthen trade relations between the EU and Armenia in line with the Comprehensive and Enhanced Partnership Agreement (CEPA). To continue benefiting from the preferential terms, Armenia must adhere to the existing rules of origin, enhance administrative cooperation with the EU, refrain from introducing new trade restrictions on EU imports, and respect the fundamental elements of CEPA, including democratic principles, the rule of law, and human rights," the document states.