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Armenia

Armenia

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

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

Trade picture

  • Trade with the EU accounts for around 20 % of Armenia's total trade.
  • The EU is Armenia's second biggest export market with a 21.9 % share in total Armenian exports
  • The EU is also the second-biggest source of Armenian imports with a 19.5 % share in total Armenian imports.
  • EU imports from Armenia consist mainly of manufactured goods and articles and crude (inedible) materials, except fuels. .
  • EU exports to Armenia include mainly machinery and transport equipment , miscellaneous manufactured articles and goods and chemicals and related products .
  • The total value of preferential imports from Armenia into the EU under the EU's Generalised Scheme of Preferences (GSP+) increased from €42 million in 2014 to €135 million in 2017 . Reported figures for GSP+ imports to the EU for 2018 decreased to €68 million. However, this was mainly due to a significant share of EU imports from Armenia registered as confidential by EU Member States.
  • The main EU imports from Armenia benefiting from GSP+ trade preferences in 2018 include base metals (90%), apparel and clothing (3%), and prepared foodstuffs (2.7%).

More GSP statistics

EU-Armenia: Trade in goods

Trade in goods 2017-2019, € billions
Year EU imports EU exports Balance
2017 0.4 0.7 0.3
2018 0.4 0.8 0.5
2019 0.4 0.8 0.4

EU-Armenia: Trade in services

Trade in services 2016-2018, € billions
Year EU imports EU exports Balance
2016 0.1 0.2 0.0
2017 0.2 0.2 -0.0
2018 0.3 0.2 -0.1

EU-Armenia: Foreign direct investment

Foreign direct investment 2018, € billions
Year Inward stocks Outward stocks Balance
2018 0.4 2.0 1.6

Unless otherwise mentioned “EU” concerns for all indicated years the current European Union of 27 Member States.

Date of retrieval: 22/04/2020

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 Special Incentive Arrangement for Sustainable Development and Good Governance (GSP+), which provides special support to economically vulnerable developing countries that ratify and implement 27 core international conventions on human and labour rights, environmental protection and good governance. GSP+ offers Armenian exports generous access to the EU market by allowing complete duty suspension across ~66 % of all EU tariff lines. Armenia's utilisation of GSP+ preferences is high, at around 91 % in 2018.

The European Commission and the European External Action Service monitor Armenia's progress and shortcomings regarding the effective implementation of the 27 international conventions.

Committees and Dialogues

The EU and Armenia have regular meetings to discuss issues relating to the application of the Comprehensive and Enhanced Partnership Agreement.

Sub-Committee on Geographical Indications

1st meeting – 16 October 2019: Agenda | Joint Minutes

Partnership Committee in Trade Configuration

2nd meeting – 17 October 2019: Agenda | Joint Minutes

Trading with Armenia