2 minute read
The EU regulation introducing autonomous trade measures for Armenian goods was published in the Official Journal of the European Union on 9 October and will enter into force on 10 October.
Ani Badalyan, spokesperson for Armenia’s Minister of Foreign Affairs and International Trade, announced this.
The proposed regulation received final approval from the EU’s Competitiveness Council on 24 September.
The regulation will liberalise around 80% of Armenia’s exports to the EU by suspending import duties on a wide range of goods, including certain agricultural products. The measures will help diversify Armenia’s foreign trade, expand access to the EU market for Armenian goods and further deepen Armenia–EU economic and trade cooperation. The preferential regime will remain in place for two years after entering into force.
Earlier, on 2 September, the Council of the EU approved the proposal without amendments. The European Parliament subsequently approved the document at a plenary session on 15 September. On 23 September, the proposal was also adopted by the Committee of Permanent Representatives of the EU member states.
With the adoption of the regulation, Armenia becomes the only country to receive such an economic benefit without having EU candidate status or a Deep and Comprehensive Free Trade Agreement with the EU.