YEREVAN, JUNE 1, ARMENPRESS. The EU-Armenia Comprehensive and Enhanced Partnership Agreement (CEPA), which was signed on 24 November, 2017 in the margins of the Eastern Partnership Summit in Brussels, is provisionally applied as of June 1, Armenpress reports citing the EU Delegation to Armenia website.

The agreement covers political, trade and other sectorial issues, from the environment to procurement procedures, reflecting the fact that relations between the European Union and Armenia are comprehensive and that there is significant potential for enhanced cooperation.

The agreement is designed to bring tangible benefits to the citizens of the European Union and Armenia. This will be done, for example, through strengthening cooperation on security matters, improving the investment climate, and stimulating growth and jobs.

As of today, the majority of the agreement will apply provisionally. This means that the European Union and Armenia will now have the framework in which to have a regular political dialogue, to work on issues related to domestic reform, to cooperate in areas such as transport, energy, banking and financial services, and to enhance their work on asylum and border management, among others.

In addition, the parts of the agreement related to trade will also apply as of today, enabling the EU and Armenia to, for example, work to enhance the regulatory environment in Armenia, thus improving the business climate and investment opportunities for Armenian and EU companies.

The agreement has already been ratified by Armenia and is currently under ratification by the EU Member States. Three EU member states – Estonia, Latvia and Lithuania, have already ratified the CEPA.

The agreement will enter into force once the process of ratification by the Member States and the procedure for conclusion by the EU is completed.