Yerevan/Mediamax/. Armenia’s economy should undergo considerable quality changes to conclude a Deep and Comprehensive Free Trade Agreement (DCFTA) with the European Union, said Trade Policy Advisor of the EU Advisory Group to Armenia Willem van der Geest today.

Delivering a lecture in the Armenian-Russian University today, Willem van der Geest said today that the first phase of the negotiations on DCFTA will start in Brussels in May 2012, Mediamax reports. 

“The negotiations may last 3 years and even longer depending on the speed of economic reforms implemented by the Armenian government”, said the expert.

According to him, Armenia should neutralize all the administrative barriers in import and export of goods, the standards of the country’s food and other production up to the international quality standards through improving the quality management institutions and to eliminate monopolies in import and all the other artificial obstacles limiting free trade.

“When we visit the web site of the State Commission for the Protection of Economic Competition of Armenia www.competition.am we will see companies having 50% and more shares in various economy spheres. European investors won’t come to Armenia on such conditions”, said Willem van der Geest adding that serious steps should be taken for combating corruption.

According to the expert, after the DCFTA with the EU comes into force Armenia’s foreign turnover will go up at a rapid speed - the import and export will considerably grow and the foreign trade deficit will reduce.