EU to negotiate free trade zone with Armenia

The European Union is ready for discussions of the free trade zone formation with Armenia, President of the European Commission Jose Manuel Barroso said after a meeting with Armenian President Serzh Sargsyan in Brussels, News Armenia reports.

The EU Trade Policy Commission, consisting of 27 members, approved talks on free trade zone formation with Armenia on February 29. Armenia will be able to diversify export structure and enter the European market.

Armenia switched to the Generalized System of Preferences (GSP+) with EU states for three years on January 1, 2009. The system allows Armenian exporters to ship goods at lower fees to Europe. GSP+ is offered to a narrow range of states, meeting criteria and requirements. It concerns over 6,400 types of goods, paid for at the lowest fees, common for free trade zones.

Armenian-EU associated membership should replace the partnership and cooperation agreements signed in Yerevan on July 19, 2010.