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Armenia

Armenia

Current EU-Armenia bilateral trade relations are regulated by a Partnership and Cooperation Agreement in force since 1999.

In February 2017 the EU and Armenia completed negotiations for a Comprehensive and Enhanced Partnership Agreement. The trade cooperation part of the new agreement aims to foster sustainable growth and job creation by improving conditions for EU-Armenia trade.

The EU and Armenia are now preparing to formally sign the agreement in the near future. This will then allow the agreement to enter into force.

Trade picture

  • Trade with the EU accounts for around 23.6% of Armenia's total trade.
  • The EU is Armenia's biggest export market with a 26.7% share in total Armenian exports
  • The EU is the second-biggest source of Armenian imports with a 22% share in total Armenian imports.
  • EU imports from Armenia consist of manufactured goods, crude materials, miscellaneous manufactured articles, and beverages and tobacco.
  • EU exports to Armenia include machinery and transport equipment, manufactured goods, miscellaneous manufactured articles and chemicals.
  • The total value of preferential imports from Armenia into the EU under the EU's Generalised Scheme of Preferences plus (GSP+) has increased from €42 million in 2014 to €108 million in 2016.
  • The main EU imports from Armenia under GSP+ preferences cover aluminum products (49%) and iron and steel (46%).

EU-Armenia: Trade in goods

Trade in goods 2014-2016, € billions
Year EU imports EU exports Balance
2014 0.3 0.7 0.4
2015 0.3 0.6 0.3
2016 0.3 0.6 0.3

EU-Armenia: Trade in services

Trade in services 2013-2015, € billions
Year EU imports EU exports Balance
2013 0.1 0.2 0.0
2014 0.1 0.2 0.1
2015 0.1 0.2 0.1

EU-Armenia: Foreign direct investment

Foreign direct investment 2015, € billions
Year Inward stocks Outward stocks Balance
2015 0.1 0.4 0.3

Date of retrieval: 15/02/2017

More statistics on Armenia

EU and Armenia

Armenia has been a member of the World Trade Organisation since 1999. Armenia was included in the European Neighborhood Policy  in 2004 and in the Eastern Partnership in 2009.

The current EU-Armenia Partnership and Cooperation Agreement agreement does not include tariff preferences, but prohibits quantitative restrictions in bilateral trade and aims to bring Armenia's regulation laws closer to that of the EU and international standards.

Armenia benefits from the EU's General Scheme of Preferences plus (GSP+) arrangement.  This offers Armenian exports advantageous access to the EU market by allowing complete duty suspension across ~66 % of all EU tariff lines. Armenia's GSP+ utilisation rate is high: around 93%.

In return, Armenia has committed to put into action 27 core international conventions on human and labour rights, environmental protection and good governance. The European Commission and the European External Action Service monitor these commitments.

Trading with Armenia