ArmInfo. On September 2, the EU Council decided to introduce temporary measures to liberalize trade in Armenian products to support the Armenian economy following recent trade restrictions imposed by Russia, the EU said in a statement.
According to the source, these measures will liberalize around 80% of Armenian exports to the EU. This preferential agreement is subject to certain conditions and includes safeguard measures to protect the EU market in the event that imports have a negative impact on EU producers.
"The Council approved the Commission's proposal without amendments, paving the way for the rapid adoption of the regulation after the European Parliament is expected to also approve the proposal without amendments. Europe stands with Armenia and its people in choosing a clear path of reform and closer cooperation with the European Union. Today's decision sends a clear signal: if economic coercion is used, the EU will respond. We will create new opportunities and stand by our partners." Helen McEntee, Ireland's Minister for Foreign Affairs and Trade, noted that the regulation introduces a temporary suspension of import duties on a wide range of Armenian products, including certain agricultural products subject to tariff quotas. The measures will be in effect for two years from the date the regulation comes into force and will cover nearly 99% of Armenia's exports of fresh fruits, vegetables, and plants to Russia and over 91% of beverages and spirits. The proposed regulation is intended to support Armenia after trade restrictions imposed by Russia disrupted Armenian exports and transit routes. It also aims to strengthen trade relations between the EU and Armenia in accordance with the Comprehensive and Enhanced Partnership Agreement (CEPA).
The preferential arrangements remain conditional on Armenia's compliance with existing rules of origin, participation in administrative cooperation with the EU, refraining from introducing new trade restrictions on EU imports, and respect for the core elements of the CEPA, including democratic principles, the rule of law, and human rights.
The European Parliament is expected to adopt its position without amendments at its plenary session in September. Following the formal adoption of this position, the Council will endorse it, and the regulation will be adopted, entering into force the day after its publication in the Official Journal of the EU.
