The EU Council supported the temporary suspension of tariffs on most goods from Armenia
The Council of the European Union has approved a proposal to introduce temporary trade preferences for Armenia, which will cover approximately 80% of its exports to the European Union.
The temporary arrangement will remain in effect for two years and provides for the elimination of import duties on a wide range of products, including certain agricultural goods. The decision was made to support the country’s economy amid trade restrictions imposed by Russia, which have disrupted traditional supply routes.
The preferential terms will cover nearly 99% of exports of fresh fruits, vegetables, and plants, as well as over 91% of beverages and alcohol, which were previously destined for the Russian market. The agreement also provides for safeguard mechanisms for the European market in the event of risks to local producers. For the regulation to take effect, it must be approved by the European Parliament during its September session.
Source: Council of the EU.
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