EU Council backs trade concessions for Armenia following Russian restrictions

The EU Council announced on Wednesday that it has decided to introduce temporary measures liberalizing trade in Armenian products to support Armenia’s economy following trade restrictions imposed by Russia.

“Europe stands with Armenia and its people, who have chosen a clear path of reform and closer cooperation with the European Union (…) We will create new opportunities and support our partners,” said Helen McEntee, Ireland’s Minister for Foreign Affairs and Trade, whose country holds the presidency of the EU Council.

The Council’s communiqué states that these measures will liberalize around 80% of Armenian exports to the EU.

“This preferential arrangement comes with certain conditions and includes safeguard measures for the EU market in case imports negatively affect EU producers,” the communiqué notes.

These measures will be in effect for two years from the date the regulation enters into force and will cover almost 99% of Armenia’s exports of fresh fruit, vegetables, and plants to Russia, as well as more than 91% of soft and alcoholic beverages, officials in Brussels noted.

The European Parliament is expected to adopt the corresponding decision without amendments at its session in September. Once this position is formally adopted, the Council will approve it, and the regulation will be adopted, entering into force the day after its publication in the EU’s Official Journal, the communiqué states.