EU launches free trade negotiations with Armenia
On 21 February 2012, the EU decided to launch the Deep and Comprehensive Free Trade Area (DCFTA) negotiations with Armenia. The aim of these negotiations will be to achieve a closer economic integration of Armenia with the EU and to boost Armenia’s economic growth and investment. This will be achieved through the tackling of market access condition and regulatory approximation.
EU launches free trade negotiations with Armenia
(Source: http://www.reuters.com/article/2012/02/20/eu-armenia-trade-idUSL5E8DK1JP20120220)
Feb 20 (Reuters) – The European Union plans to launch negotiations on a free trade area (FTA) with Armenia soon in order to boost trade and investment with the Caucasus country.
Talks will cover market access EU.conditions, as well as bringing rules in other countries closer to those in the EU so their local manufacturers meet EU standards. The moves are aimed at helping Armenia integrate more with the “The EU is Armenia’s first trading partner,” EU Trade Commissioner Karel De Gucht said in a statement.
“A deep and comprehensive free trade area will give Armenia a more favourable access to the European Single Market thereby helping to boost economic growth in the country.”
It did not say when the talks would start.
The EU has been negotiating a broader Association Agreement with Armenia since July 2010, a type of agreement the EU uses to persuade third countries to make commitments to political, economic, trade, or human rights reform.
Armenia has made significant reforms recently in technical regulations, sanitary measures and the protection of intellectual property, the Commission said.
The EU was Armenia’s biggest trading partner in 2011, with bilateral trade amounting to 960 million euros. The country already benefits from low import duties to the EU. (Reporting By Sebastian Moffett Editing by Maria Golovnina)
EU launches free trade zone formation talks with Armenia
“The opening of free trade negotiations marks a turning point in our trade relations with Armenia. We are entering a new phase that will bring our economic ties to a new level of depth and ambition”, EU Trade Commissioner Karel De Gucht said.
“This is a further sign of the strengthening of our political and economic ties,” Commissioner for Enlargement and European Neighbourhood Policy Štefan Füle stated.
Free trade zone formation makes a part of the Association Agreement.
Please click here to watch a video statement by EuFoA.
More Sources:
European Commission: EU launches free trade negotiations with Armenia
“The Parliament” magazine website: EU launches trade negotiations with Armenia
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