YEREVAN, NOVEMBER 27, ARMENPRESS. The EU will increase the development assistance to Armenia by 25%, providing also technical assistance for the implementation of the Comprehensive and Enhanced Partnership Agreement between Armenia and the EU, ARMENPRESS reports Head of the EU delegation to Armenia, Ambassador Piotr Switalski told the reporters. “170 million Euro assistance will be provided until 2020. But this does not limit the opportunities that can emerge as a result of the signing of this agreement”, the EU official said.

Referring to the expected economic benefits stemming from the implementation of the agreement Piotr Switalski noted that this agreement includes new elements that are fully in combinable with the WTO regime, and at the same time can serve as guarantees for European enterprises and companies to expand trade volumes and investments in Armenia.

“We hope that those elements will serve as guarantees documenting the modern, Western standards of doing business in Armenia. We think the agreement will be encouraging for companies”, Piotr Switalski added.

Armenia and the EU signed the CEPA on November 24 in Brussels in the presence of Armenian President Serzh Sargsyan and President of the European Council Donald Tusk. The document was signed by Armenian Foreign Minister Edward Nalbandian and EU High Representative for Foreign Affairs and Security Policy Federica Mogherini.