CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. EU, Armenia Kickstart Free Trade Talks

EU, Armenia Kickstart Free Trade Talks

by Ulrika Lomas, Tax-News.com, Brussels

01 June 2012


The European Union (EU) and Armenia have agreed to begin negotiations towards a deep and comprehensive Free Trade Area, with the first round of negotiations scheduled to begin over two days starting June 29, it was announced on May 30.

Negotiations towards a free trade pact had previously stalled over a dispute concerning Armenia's valuation processes on alcoholic beverage imports. However, an agreement to launch free trade talks was reached at a meeting at the start of May, and the two parties held preliminary discussions on areas to be covered by the agreement, including taxation, customs policies, investment and intellectual property protection.

The trade and political relationship between Armenia and the EU is currently covered by the Partnership and Cooperation Agreement, which entered into force on July 1, 1999. Presently, Armenian goods are only afforded access under the EU's General System of Preferences, which provides broad, but not substantial, tariff reductions to 176 developing countries.

According to European statistics, Armenia runs a sizeable trade deficit in two-way trade with the EU. In 2011, the EU exported goods worth EUR640m (USD790m), mainly machinery and transport equipment and manufactured goods; while Armenian exports to the EU, worth EUR310m, comprised mainly of manufactured goods and raw materials.

TAGS: tax | business | free trade agreement (FTA) | export duty | law | Armenia | import duty | trade | European Union (EU) | Europe

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »