The Council of the European Union announced that it agreed to introduce temporary trade-liberalization measures for Armenian products to support Armenia's economy in light of trade restrictions imposed by Russia, the Council said in a communique.
These measures will liberalize around 80% of Armenian exports to the EU, the communique says.
"This preferential arrangement comes with certain conditions and also includes safeguard measures to protect the EU market if imports adversely affect EU producers," the communique says.
The measures will remain in effect for two years from the regulation's entry into force and will cover almost 99% of Armenia's exports of fresh fruit, vegetables and plants to Russia and more than 91% of beverages and spirits.
The European Parliament is expected to make the corresponding decision without amendments at its September plenary session. Once that position is formally adopted, the Council will approve it and the regulation will be adopted, entering into force on the day following its publication in the Official journal of the EU.
