Comprehensive and Enhanced Partnership Agreement to diversify Armenia’s integration vectors, economist says

Comprehensive and Enhanced Partnership Agreement to diversify Armenia’s integration vectors, economist says

YEREVAN, November 24. /ARKA/. The Comprehensive and Enhanced Partnership Agreement that Armenia is expected to sign today with the European Union during the Eastern Partnership Summit in Brussels, Belgium, will diversify Armenia’s integration vectors  in economic, political, cultural and other spheres, Atom Margaryan, the head of the Center for Innovative and Institutional Research, a think tank based in Yerevan, said to a news conference today.

He argued that the agreement would make Armenia’s economic and political systems more flexible. ‘The agreement is not an alternative but an addition. It makes our relations with the world multilateral," Margaryan said. According to him, the agreement gives Armenia the opportunity to continue institutional reforms.

"For decades we have been implementing these reforms through the assistance of international structures that provided us with financing in exchange for reforms. The agreement will allow us to complete the second-generation institutional reforms successfully," he said. At the same time, he noted that in the short and medium term it is impossible to feel all the advantages of the agreement.

"The most interesting thing is that the agreement will facilitate implementation of those reforms which do not advance very well in the Russian-led Eurasian Economic Union. More precisely, capital market reforms. This is why we should expect new investments from EU member countries into our economy," he said, adding that in the short term investments and introduction of technologies from the EU should not be expected.

The Comprehensive and Enhanced Partnership Agreement was initialed on March 21, 2017, by Armenia and the European Union. 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. -0-

15:00 24.11.2017





 

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