EU LAUNCHES FREE TRADE NEGOTIATIONS WITH ARMENIA

Reuters
Feb 20 2012

BRUSSELS Feb 20 (Reuters) – The European Union plans to launch
negotiations on a free trade area (FTA) with Armenia soon in order
to boost trade and investment with the Caucasus country.

Talks will cover market access EU.conditions, as well as bringing
rules in other countries closer to those in the EU so their local
manufacturers meet EU standards. The moves are aimed at helping
Armenia integrate more with the

“The EU is Armenia’s first trading partner,” EU Trade Commissioner
Karel De Gucht said in a statement.

“A deep and comprehensive free trade area will give Armenia a more
favourable access to the European Single Market thereby helping to
boost economic growth in the country.”

It did not say when the talks would start.

The EU has been negotiating a broader Association Agreement with
Armenia since July 2010, a type of agreement the EU uses to persuade
third countries to make commitments to political, economic, trade,
or human rights reform.

Armenia has made significant reforms recently in technical regulations,
sanitary measures and the protection of intellectual property, the
Commission said.

The EU was Armenia’s biggest trading partner in 2011, with bilateral
trade amounting to 960 million euros. The country already benefits
from low import duties to the EU. (Reporting By Sebastian Moffett
Editing by Maria Golovnina)

From: Emil Lazarian | Ararat NewsPress