The European Union Council has approved a proposal for trade preferences for Armenia. If the European Parliament also approves the project this month, several hundred types of Armenian products may enter the EU market duty-free:
Bryssel is taking this step against the backdrop of Russia's economic restrictions. Just two months ago, European Commission President Ursula von der Leyen announced Brussels' intentions during a meeting with Prime Minister Nikol Pashinyan in Yerevan:
“This way, we can redirect the goods that are largely exported to the Russian market and send them to the European Union's single market for 450 million people,” said the President of the European Commission:
By establishing autonomous trade measures or ATM, Brussels aims to support Armenia's economy after Russian trade restrictions:
Europe stands with Armenia and its people, who have chosen a clear path of reforms and closer cooperation with the European Union, commented the decision of the European Union Council by Ireland's Minister of Foreign Affairs and Trade Helen McEntee:
“This decision is a clear message that the European Union is responding to economic coercion. We will create new opportunities and stand by our partners,” assured the Irish minister:
The proposal, which Brussels says is likely to be fully approved in the coming weeks, provides for free trade opportunities for 324 product groups:
According to Brussels' calculations, Armenian entrepreneurs will not pay customs duties totaling 5.4 million euros over two years:
The European Union estimates that the preference will cover 99 percent of fruit and vegetable exports to Russia and 91 percent of alcoholic beverages:
For 8 agricultural crops, there will be clear quantitative restrictions:
- 6.5 thousand tons of cucumbers
- 5 thousand tons of grapes
- 750 tons of pears
- 7 thousand tons of apricots
- 2 thousand tons of cherries
- 3.5 thousand tons of peaches
- 1.5 thousand tons of plums
- 2.5 thousand tons of strawberries
In addition to these agricultural crops, no quantitative restrictions are planned for another 316 product groups:
The European Union intends to establish such preferential conditions for a period of two years:
