EU Council approves temporary trade liberalization with Armenia
The EU Council has approved temporary trade liberalization measures with Armenia, providing for the removal of import duties on approximately 80% of Armenian exports to the European Union.
This was reported on the website of the EU Council.
The measures are aimed at supporting Armenia's economy following trade restrictions imposed by Russia and will remain in effect for two years.
Under the new regime, import duties will be suspended on a wide range of Armenian goods, including certain types of agricultural products.
The EU Council noted that the measures will help maintain and strengthen trade flows from Armenia to the European Union in line with the objectives of the Comprehensive and Enhanced Partnership Agreement (CEPA).
At the same time, certain conditions and safeguard measures are provided for the EU market in case imports negatively affect European producers.
The final decision came after the European Parliament, at a plenary session, approved the European Commission's proposal without amendments.
The regulation must now be signed and published in the EU's official journal. It will enter into force the day after publication and will apply for two years.
