Ursula von der Leyen, President of the European Commission said: “The recent elections have shown the strength of Armenia’s democracy. The Armenian people have chosen reform and a closer partnership with our Union. No country should be pressured for a sovereign choice. This is why the EU is stepping up, with €52 million (~$61 million) and proposed tariff-free access for 80 per cent of Armenia’s exports to the EU. Armenia can count on us.”
EU leaders met Armenia’s Prime Minister in Yerevan and proposed tariff-free access for around 80 per cent of Armenian exports to the EU.
The plan is aimed at helping exporters diversify trade as Armenia faces external economic pressure.
EU experts are due in Armenia by mid-July to help producers meet EU standards and build export capacity.
The proposed Autonomous Trade Measures will liberalise around 80 per cent of Armenian exports to the EU once adopted by the European Parliament and the Council of the European Union, the European Commission said in a press release.
The temporary measures are intended to support Armenian exporters in shifting towards the EU market, including sectors affected by recent Russian trade restrictions. EU experts are set to be deployed to Armenia by mid-July to work with producers and exporters on market opportunities, EU standards, export capacity and access to the EU Single Market.
The commission further said that the EU has already disbursed €34 million (~$40 million) of a €52 million (~$61 million) support package announced in early June, with the remaining €18 million (~$21 million) to be released shortly, taking total EU financial support for Armenia to €288 million (~$337 million). Separately, the EU has cited a connectivity package of up to €200 million (~$234 million) for the South Caucasus, with potential to mobilise up to €2 billion (~$2.34 billion), and an additional €20 million (~$23 million) in Peace Dividends for local communities in Armenia and Azerbaijan.
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