At the level of Coreper II ambassadors, the EU Council approved a legislative initiative providing for the temporary suspension, for two years, of customs duties applied to a broad range of Armenian goods and the liberalization of around 80% of exports from Armenia to the EU, Factor.am reports.
Application of the preferential regime will be conditional on meeting a number of requirements. Armenia must comply with rules of origin, refrain from introducing new restrictions on goods imported from the EU, and respect the fundamental principles enshrined in the EU-Armenia Comprehensive and Enhanced Partnership Agreement, including democracy, the rule of law and human rights.
The proposal must still receive formal approval at an upcoming session of the European Parliament, after which the EU Council will endorse it. The regulation will then be adopted and enter into force on the day following its publication in the Official Journal of the European Union.
