During a press conference with Armenian Prime Minister Nikol Pashinyan, European Commission President Ursula von der Leyen announced two important steps aimed at strengthening Armenia's economic resilience:
In addition to 18 million euros of additional financial support, the EU is preparing to eliminate tariffs on the main part of Armenian exports, allowing Armenian producers to access the 450 million-strong European market:
“We are taking another step forward. We are proposing what are called Autonomous Trade Measures (ATM). This means that these ATMs will eliminate tariffs on approximately 80% of Armenia's exports to the European Union. This means that 80% of your trade with us will now be tariff-free:
This will allow us to redirect products that currently rely heavily on the Russian market and send them to the European Union's single market, which encompasses 450 million consumers. This measure will open the doors of Europe for almost 99% of Armenia's fresh agricultural products, vegetables, fruits, and organic goods, as well as more than 90% of your beverages and alcoholic drinks to the EU's single market:
In fact, in recent months we have witnessed increasing volumes of Armenian flowers arriving in our market, and this is a beautiful symbol of opening a new chapter in our economic partnership:
This is just the beginning. With the help of these new measures, we will have the opportunity to quickly diversify your trade. In mid-July, we will send experts to Armenia to work directly with your producers, businesses, and exporters, helping them take advantage of all the opportunities that a preferential partnership with the European Union can offer,” she said:
