Armenia to receive €18 million from EU to strengthen and diversify trade, says Ursula von der Leyen
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European Commission President Ursula von der Leyen announced in Yerevan that Armenia will soon receive €18 million to strengthen and diversify its trade.
Speaking at a joint press conference with Armenian Prime Minister Nikol Pashinyan on July 2, von der Leyen said that although Armenia continues to face significant economic pressure from Russia, it can be confident that when the European Union's partners come under pressure, the EU responds with practical support.
"This funding could, for example, help establish an export promotion agency to strengthen the export capacity of Armenian businesses. The €18 million is the final component of the €52 million support package that we discussed with the prime minister during our phone conversation in early June. We are also taking another step by proposing EU autonomous trade measures (ATMs). Under this proposal, 80% of Armenia's exports to the European Union will be liberalized. This will allow us to redirect products that are currently heavily dependent on the Russian market to the European single market, with its 450 million consumers. In particular, the single market will be opened to 99% of Armenia's fresh agricultural products, which have until now been exported to Russia. It will also open the door to more than 90% of Armenian beverages and spirits entering the EU single market," the President of the European Commission said.
Von der Leyen recalled that in recent months, Europeans have seen increasing volumes of Armenian flowers reaching the EU market, describing this as a powerful symbol of a new chapter in the economic partnership between Armenia and the European Union.
"This is only the beginning. These new measures will create opportunities for rapid diversification. In mid-July, we will send experts to Armenia to work directly with your producers, businesses, and exporters, helping them take full advantage of all the opportunities offered by this privileged partnership with the European Union," she said.
European Commission President Ursula von der Leyen arrived in Armenia on the morning of July 2 on a working visit. Armenian Prime Minister Nikol Pashinyan welcomed the President of the European Commission at the Government headquarters.