YEREVAN, OCTOBER 2, ARMENPRESS. The European Union will assist Armenia to improve the regulation field in spheres like trade, services, creation of enterprises and their activity, public procurement and etc, Johannes Hahn - Commissioner for European Neighbourhood Policy and Enlargement Negotiations, said during a joint press conference with Armenian foreign minister Edward Nalbandian in Yerevan, reports Armenpress.

“The European Union will provide major assistance to economic entities and businesses”, he said, stating that one of the expected results in near future will be the initiative to provide loans with a local currency, which according to him, is especially important for small and medium businesses which do not have an experience of working with a foreign currency.

Commenting on the upcoming Eastern Partnership summit in Brussels, the EU Commissioner said it shows that all the EU member states assumed commitment to further develop the Eastern neighbourhood.

“I can state that the relations of the European Union and Armenia have further improved. I think the elections of this year are the evidence of that. Of course, there is always an opportunity for additional progress which must be achieved. It is in the interests of all of us to have a stable and prosperous neighborhood since it will bring peace and welfare. Citizens as well are interested in this and they deserve it”, Johannes Hahn said.

At the invitation of Armenian foreign minister Edward Nalbandian, Johannes Hahn arrived in Armenia on October 2. During the visit he will have meetings with Armenia’s high-ranking officials.