In order to increase economic growth and investment in Armenia, the EU is launching negotiations on a deep and comprehensive free trade area. The negotiations will focus on regulatory approximation along with market access conditions, both of which will help to achieve a closer economic integration of Armenia with the EU.
By increasing economic integration, the EU aims to enhance political stability and security in Armenia. The free trade area will be part of the broader Association Agreement, which has been negotiated with Armenia since July 2010. It is expected to diversify and strengthen the country’s export capacity and thus open the way to access the EU markets.
“The opening of free trade negotiations mark 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," said Trade Commissioner Karel De Gucht. "The EU is Armenia's first trading partner and 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."
For more: EU to boost trade ties with Armenia | New Europe