The EU Council has adopted temporary measures to cut import tariffs on most goods from Armenia for two years following trade restrictions imposed by Russia.
The arrangement suspends import duties on a wide range of Armenian products entering the EU, including some agricultural goods, and will cover around 80% of Armenia’s exports to the bloc, the Council said in a statement on Thursday.
It pointed out that the preferential treatment comes with conditions and includes “safeguard measures” that would allow action to protect the EU market if imports from Armenia adversely affect EU producers.
The decision follows a vote in the European Parliament approving the European Commission’s proposal without amendments.
When the measures will take effect
The regulation will be signed and published in the EU’s Official Journal — its legal record — and will take effect the day after publication, the Council said.
It will then apply for two years from the date it enters into force.
Ireland’s Minister for Foreign Affairs and Trade Helen McEntee said the decision would help Armenia’s economy after trade restrictions.
