EU-Armenia Partnership Priorities reads that banking supervision will be further strengthened according to international norms and best practices, to increase the robustness and the resilience of the financial sector.

Minister of Foreign Affairs of Armenia Edward Nalbandian and EU High Representative for Foreign Affairs and Security Policy Federica Mogherini signed the EU-Armenia Partnership Priorities in Brussels on February 21.

The document also reads that the modernization and reforms in customs and tax administration, including international cooperation and reinforcement of fight against fraud, will boost revenue collection.

It also says that as a land-locked country, Armenia needs to overcome the challenges to its connectivity. Also within the country, some areas suffer from remoteness and limited connections to centers of economic, political and social activity.

The parties will cooperate in the framework of the extended core Trans-European Transport network (TEN-T), based on clear prioritization, to improve Armenia’s access to the international markets.

You can find out more about the implementation of EU-Armenia Partnership Priorities here.