The EU Council today approved the definition of temporary measures for the liberalization of Armenian goods imports to support Armenia's economy after the restrictions imposed by Russia. These measures liberalize about 80% of Armenian exports to the EU:
The special regime is accompanied by certain conditions and includes measures to protect the EU market if the import negatively affects EU producers:
“Europe stands in solidarity with Armenia and its people, who have chosen a clear path of reforms and closer cooperation with the European Union. Today’s decision is a clear signal: when economic pressure is applied, the EU responds. We will create new opportunities and support our partners,” said Ireland’s Minister for Foreign Affairs and Trade, Helen McEntee:
Currently, Ireland holds the presidency of the EU Council:
The regulation establishes a temporary suspension of import duties on a wide range of Armenian goods, including certain agricultural products for which tariff quotas are set:
The measures will be in effect for two years from the moment the regulation comes into force and will cover nearly 99% of Armenian exports of fresh fruits, vegetables, and plants to Russia, as well as over 91% of exports of beverages and alcoholic drinks:
The regime will be conditional on Armenia's compliance with the relevant rules of origin, administrative cooperation with the EU, refraining from introducing new trade restrictions on imports from the EU, and adherence to the key provisions of CEPA, including democratic principles, the rule of law, and human rights:
The European Parliament is expected to approve the decision made today without changes at the plenary session in September:
