Today, September 24, the proposal for an EU regulation on the application of autonomous trade measures for Armenian goods received final approval from the EU Council (Competitiveness Council).

Once signed by the Presidents of the European Parliament and the EU Council, the regulation will be published in the Official Journal of the EU and will enter into force the following day.

This EU regulation will liberalize approximately 80% of Armenia's exports to the EU by suspending import duties on a wide range of goods, including certain agricultural products. These measures will contribute to the diversification of Armenia's foreign trade, expand access to the EU market for Armenian goods, and further deepen economic and trade cooperation between Armenia and the EU. Upon entry into force, the preferential regime will remain in effect for a period of two years.

Earlier, on September 2, the EU Council had approved the draft without amendments. Subsequently, on September 15, the European Parliament endorsed the document during its plenary session. Yesterday, September 23, the draft was also adopted by the Committee of Permanent Representatives of the EU Member States.

With the adoption of this regulation, Armenia becomes the only country—lacking both EU candidate status and a Deep and Comprehensive Free Trade Agreement with the EU—to receive such an economic privilege; this once again demonstrates the unprecedentedly high level of the Armenia-EU partnership and aligns with the spirit of the declaration from the first Armenia-EU summit and the strategic partnership agenda.