The Council of the European Union has formally approved temporary trade liberalisation measures covering around 80% of Armenian exports to the EU. The decision is presented as a step to support Armenia’s economy after trade restrictions imposed by Russia.
Under the Council’s decision, trade preferences will apply to a broad range of Armenian goods. This includes a temporary suspension of import duties on selected agricultural products.
The preferential regime will remain in force for two years. The EU Council said the new measures should help maintain and strengthen trade flows from Armenia to the European Union in line with the objectives of the Comprehensive and Enhanced Partnership Agreement (CEPA).
At the same time, the mechanism includes conditions and safeguard measures for the EU market. These are designed to be used if imports of Armenian products have a negative impact on European producers.
The final decision came after the European Parliament approved the European Commission’s proposal without amendments.
