The European Union is preparing trade concessions for Armenia to support the country’s economy after Russia’s import restrictions. According to the Financial Times, the European Commission is developing autonomous trade measures that would reduce tariffs on Armenian food and agricultural exports.
The initiative was a response to Russian restrictions imposed ahead of the recent elections in Armenia. According to the newspaper’s sources, Moscow was trying to increase pressure on the country’s pro-Western government.
“Now is the time to step up and support them, and show that we can be a reliable partner,” one of the FT’s interlocutors said.
The measures would require the support of a majority of EU countries and the approval of the European Parliament. They could cover most of the roughly 20 categories of goods affected by Russian restrictions. The total value of such exports is estimated at around 420 million euros per year.
European Commission representative Olof Gill said Brussels is keen to help Armenian businesses gain access to new markets.
“The European Commission will propose autonomous trade measures to help more Armenian businesses gain access to new market opportunities in the EU and support the country’s economy in the sectors most affected,” Gill said.
At the same time, the EU is taking into account the difficulties with certain products, including cognac, as well as the logistics of perishable products from the landlocked country. Proposals could be presented in the coming weeks, and EU Enlargement Commissioner Marta Cos is planning to visit Armenia early next month.
The expected benefits are expected to be part of broader EU support for Yerevan amid Russia’s trade pressure and Armenia’s attempts to expand economic ties with Western partners.
