European Parliament backs trade preferences for Armenian goods

The European Parliament has approved a proposal to grant temporary trade preferences to Armenian products, marking another step toward closer economic ties between Armenia and the European Union.

The measure was supported by 583 lawmakers, while 49 voted against it and 39 abstained.

The proposal provides for temporary trade liberalization measures that would benefit Armenian exports to the EU. Under the initiative, customs duties on a broad range of Armenian goods would be suspended for two years, while around 80% of Armenia’s exports to the EU would be liberalized.

The EU Council, through Coreper II at ambassador level, approved the legislative initiative on September 2.

A day later, the European Parliament’s Committee on International Trade (INTA) also backed the proposal, with 35 votes in favor, two against and three abstentions.

The latest vote brings Armenia closer to expanded preferential access to the European market and could create additional opportunities for Armenian exporters.

The measures are part of broader efforts to strengthen Armenia-EU economic and trade relations, with the proposed tariff suspension aimed at facilitating the flow of Armenian products into the European Union.