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Armenia

Armenia

Current EU-Armenia bilateral trade relations are regulated by a Comprehensive and Enhanced Partnership Agreement. This agreement has been provisionally applied since June 2018.

Negotiations for the agreement were completed in February 2017. The new agreement replaces a Partnership and Cooperation Agreement from 1999.

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 2015-2017, € billions
Year EU imports EU exports Balance
2015 0.3 0.6 0.3
2016 0.4 0.6 0.3
2017 0.4 0.7 0.3

EU-Armenia: Trade in services

Trade in services 2014-2016, € billions
Year EU imports EU exports Balance
2014 0.1 0.2 0.1
2015 0.1 0.2 0.1
2016 0.1 0.2 0.1

EU-Armenia: Foreign direct investment

Foreign direct investment 2016, € billions
Year Inward stocks Outward stocks Balance
2016 0.1 0.3 0.2

Date of retrieval: 16/04/2018

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 Comprehensive and Enhanced Partnership Agreement aims to further improve EU-Armenia trade by enhancing the regulatory environment for businesses. This includes areas such as:

  • services
  • establishment
  • operation of companies
  • capital movements
  • government procurement
  • state-owned enterprises
  • intellectual property rights
  • sustainable development

It also removes barriers in trade in services between the EU and Armenia.

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