The EU Council agreed to introduce temporary trade-liberalization measures for Armenia

The EU Council today agreed to introduce temporary trade-liberalization measures for Armenian products to support Armenia’s economy following trade restrictions recently imposed by Russia. 

These measures will liberalize around 80% of Armenian exports to the EU. This preferential arrangement comes with certain conditions and also includes safeguard measures to protect the EU market if imports adversely affect EU producers.

“Europe stands with Armenia and its people, who have chosen a clear path for reform and closer cooperation with the European Union. Today’s decision sends a clear message: when faced with economic coercion, the EU will respond. We will create new opportunities and stand with our partners,” said Helen McEntee, Minister for Foreign Affairs and Trade of Ireland.

The regulation introduces a temporary suspension of import duties for a broad range of Armenian products, including selected agricultural products subject to tariff-rate quotas. 

The measures will apply for two years from the regulation’s entry into force and will cover almost 99% of Armenia’s exports of fresh fruit, vegetables and plants to Russia and more than 91% of beverages and spirits.

The preferential arrangements remain conditional on Armenia complying with the applicable rules of origin, engaging in administrative cooperation with the EU, refraining from introducing new trade restrictions on EU imports and respecting the essential elements of the CEPA, including democratic principles, the rule of law and human rights.

The European Parliament is expected to adopt its position without amendments during its September plenary session.