Countries and regions
EU-Armenia bilateral trade relations are currently regulated by a Partnership and Cooperation Agreement in force since 1999.
The EU and Armenia completed negotiations on an Association Agreement, including a Deep and Comprehensive Free Trade Area (DCFTA), in July 2013. The negotiations will allow Armenia to drive forward a programme of comprehensive modernisation and reform based upon shared values, political association and economic integration.
The process of implementating of the AA and the DCFTA was withheld in September 2013 following Armenia's decision to negotiate its membership in the Customs Union of Russia, Belarus and Kazakhstan, as both negotiations are incompatible.
- The EU is Armenia's main trading partner, accounting for around 29.7% of Armenia's total trade.
- The EU continues to be Armenia's biggest export and import market with respective 39.4 % and 26.5 % share in total Armenian exports and imports.
- EU imports from Armenia chiefly consist of manufactured goods, crude materials, miscellaneous manufactured articles, and beverages and tobacco.
- EU exports to Armenia are dominated by 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. Generalised Scheme of Preferences (GSP) has increased, from € 61 million in 2009 to € 90 million in 2012. Armenia's GSP utilisation rate is high: around 90%. The main EU imports Armenia under GSP preferences are: base metals (78%), textiles (18%) and foodstuffs (2%).
EU-Armenia "trade in goods" statistics
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EU-Armenia "trade in services" statistics
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Foreign direct investment
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EU and Armenia
Trade negotiations with Armenia
- Armenia is included in the European Neighbourhood Policy
- EU-Armenia bilateral trade relations are currently regulated by a Partnership and Cooperation Agreement in force since 1999. This agreement does not include tariff preferences, but prohibits quantitative restrictions in bilateral trade and envisages selective regulatory approximation of Armenia's legislation to the EU acquis.
- The implementation of the new Association Agreement concluded with the EU in July 2013 and aiming at replacing the current Partnership and Cooperation Agreement is withheld on grounds of Armenia's incompatible commitments resulting from negotiations of its membership in the Customs Union of Russia, Belarus and Kazakhstan.
- The withheld new Association Agreement envisaged to establish a Deep and Comprehensive Free Trade Area, underpinned by regulatory approximation leading to convergence with EU laws and standards. The Agreement was expected to improve economic governance as well as Armenia's ability to attract investment. It also allowed for Armenia's independent trade policy with third countries.
- Based on their common endeavour to build upon the existing framework of cooperation, the EU and Armenia stressed in a joint statement at the Eastern Partnership Summit in Vilnius (November 2013) the importance to revisit the legal basis of their bilateral relations.
- Under the EU Generalised Scheme of Preferences Armenia has been benefiting from the special incentive arrangement for sustainable development and good governance, the so-called Generalised Scheme of Preferences Plus (GSP+), since July 2005. This arrangement offers Armenian exports advantageous access to the EU market since it provides for a zero duty rate for about 6400 tariff lines. Armenia continues to benefit from the new GSP+ scheme as of January 2014.
Trading with Armenia
- Rules and requirements for trading with Armenia
- The EU is present on the ground in Armenia
- Trade relations are part of the EU's overall political and economic relations with Armenia
- Armenia is a member of the World Trade Organisation
- Armenia is part of the South Caucuses region