Armenia-EU agreement to give fresh boost to Armenian economy, expert says

Armenia-EU agreement to give fresh boost to Armenian economy, expert says

YEREVAN, November 8. /ARKA/. The Comprehensive and Enhanced Partnership Agreement that Armenia and the European Union are set to sign later this month in Brussels is expected to give a fresh boost to Armenian economy and attract fresh investments, Gagik Makaryan, the chairman of the National Union of Employers, told journalists on Wednesday.

"The agreement is a serious document that covers economy, investments, all sectors related to economy. This is very important, especially that Armenia will be given 4-5 years to meet all the requirements, stemming from the agreement,’ said Makaryan.

According to him, the agreement will secure a consistent transition to generally accepted business standards, which will make the Armenian market more understandable to foreign investors and businesses. Makaryan noted that common approaches allow creating a certain level of culture and education for the proportional and stable development of the country.

As for possible contradictions with Armenia's membership in the Russia-led Eurasian Economic Union (EEU), he said the latter’s main principles are the key criteria for trade and economy of the TWO, which are also applied in other EEU countries.

"I do not think that the agreement with the EU contradicts the requirements of the EEU; moreover, it creates good economic and trade opportunities for all countries," said Makaryan.

The agreement was initialed on March 21, 2017, by Armenia and the European Union. Before the signing the agreement must be approved by all 28 EU member countries. The agreement will enter into force after all 28 EU member states and Armenia ratify it.

Armenia and the EU were supposed to sign the Association Agreement and the Deep and Comprehensive Free Trade Agreement (DCFTA) at a 2013 November Eastern Partnership summit in Vilnius but on September 3 Armenian president Serzh Sargsyan announced that the country was going to become part of the Russian-led Customs Union. 

On December 7, 2015 Armenia and the EU launched talks on a new framework agreement after EU Foreign Affairs Council authorized earlier the European Commission and the High Representative to open negotiations on a new legal basis for relations with Armenia on October 13. -0-


17:16 08.11.2017





 

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