EU Adopts Temporary Trade Measures to Reduce Import Tariffs for Armenian Products
On September 24, the Council of the European Union formally adopted temporary trade-liberalization measures for products originating from Armenia. These measures are designed to support Armenia's economy, which has been impacted by recent trade restrictions imposed by Russia. The new arrangement will liberalize approximately 80% of Armenian exports to the EU by suspending import duties on a wide array of products, including certain agricultural goods. This temporary preferential treatment is set to be in effect for a period of two years. The decision follows a positive vote in the European Parliament plenary session on the European Commission's proposal without any amendments. The regulation will be signed, published in the Official Journal of the EU, and will enter into force the day after its publication.
