EU approves 80% liberalisation of Armenian exports for two years

“The Council today formally adopted temporary measures for trade liberalisation for Armenian products, with the aim of supporting the Armenian economy following the trade restrictions recently imposed by Russia,” states the institution in a press release.

According to the body that brings together the European Member States, “these measures will liberalise around 80% of Armenian exports to the EU by suspending customs duties on a wide range of products, including certain agricultural products”.

This temporary preferential scheme will be applied for two years and aims to support and strengthen trade flows between Armenia and the EU, in line with the objectives of the Comprehensive and Reinforced Partnership Agreement.

The preferential scheme is subject to certain conditions and includes safeguard measures to protect the European market if the increase in imports has adverse effects on EU producers.

The formal adoption by the Council comes after the European Parliament has approved the European Commission proposal without amendments.

The Regulation will now be signed and published in the Official Journal of the European Union and will enter into force on the day following publication and apply for two years.

The decision arises after Russia has since May imposed restrictions on several Armenian export products, including alcoholic beverages, mineral water, fruit and vegetables, and created obstacles to the transit of some Armenian goods through Russian territory.

The measures affected Armenia's access to traditional markets and disrupted supply chains, with a major impact on small and medium-sized enterprises and agricultural producers.

The European Commission classified Russian measures as a form of economic coercion and announced in June a support package for Armenia.