Azernews.Az

Akbar Novruz

Read more

The European Union is set to temporarily abolish customs duties on a wide range of Armenian goods and liberalize around 80% of Armenia’s exports to the EU market for a period of two years.

According to Factor TV’s Brussels correspondent, the EU Council has approved a legislative initiative establishing the temporary preferential trade regime for Armenian exports.

The measure would provide Armenian exporters with broader access to the EU market by removing customs duties on a wide range of products.

The preferential regime will be subject to several conditions. Armenia will be required to comply with EU rules of origin for goods, refrain from introducing new restrictions on imports from the EU and respect the fundamental principles outlined in the EU-Armenia Comprehensive and Enhanced Partnership Agreement.

These principles include democracy, the rule of law and respect for human rights.

The initiative has not yet completed the EU’s legislative process. The proposal must still receive formal approval from the European Parliament at its upcoming session.

Once approved, the regulation will be formally adopted and will enter into force on the day following its publication in the Official Journal of the European Union.

The temporary arrangement is expected to provide Armenian exporters with preferential access to the EU market while linking the benefits to compliance with the agreed trade and partnership conditions.