European Commission President Ursula von der Leyen and Enlargement Commissioner Marta Kos recently met in Yerevan with Armenian Prime Minister Nikol Pashinyan.
Ursula von der Leyen, president of the European Commission said: “The recent elections have demonstrated the strength of Armenia’s democracy. The Armenian people have chosen reform and a closer partnership with our Union. No country should be pressured to make a sovereign decision. That is why the EU is stepping forward, with €52 million (~$61 million) and a proposed tariff-free access for 80 percent of Armenia’s exports to the EU. Armenia can count on us.”
EU leaders met with the Prime Minister of Armenia in Yerevan and proposed tariff-free access for around 80 percent of Armenian exports to the EU. The plan aims to help exporters diversify trade as Armenia faces external economic pressures. EU experts will arrive in Armenia in mid-July to help producers comply with EU standards and develop export capacity.
The proposed Autonomous Trade Measures will liberalize around 80 percent of Armenian exports to the EU once they are adopted by the European Parliament and the Council of the European Union, the European Commission said in a press release.
The temporary measures are aimed at helping Armenian exporters shift to the EU market, including sectors affected by recent Russian trade restrictions. EU experts are scheduled to be sent to Armenia in mid-July to work with producers and exporters on market opportunities, EU rules, 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, and the remaining €18 million (~$21 million) will be released shortly, bringing the EU’s total financial support to 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 the potential to mobilize 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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