Deep free trade area agreement compatible with CIS economic cooperation: EU

YEREVAN, September 5. /ARKA/. The Deep and Comprehensive Free Trade Area (DCFTA) agreements may be compatible with the economic cooperation within the Commonwealth of Independent States (CIS), says a European Commission statement posted on the EU official website, Novosti-Armenia reported.

“We take note of Armenia’s apparent wish to join the Customs Union. We look forward to understanding better from Armenia what their intentions are and how they wish to ensure compatibility between these and the commitments undertaken through the Association Agreement and DCFTA. Once this consultation has been completed, we will draw our conclusions on the way forward.

We want to underline once again that AA/DCFTA is a blueprint for reforms beneficial for all and not a zero-sum game and could be compatible with economic cooperation with the members of the Commonwealth of Independent States”, the statement reads.

The document says after three and a half years the negotiations with Armenia on the Association Agreement (including a Deep and Comprehensive Free Trade Area) were finalized

“This agreement would allow Armenia with the EU´s support, to drive forward a program of comprehensive modernization and reform based upon shared values, political association and economic integration”, reads the European Commission’s statement.

Tuesday, after the negotiations between Armenia’s and Russia’s presidents, a statement was made saying Armenia intends to enter the Customs Union and participate later in formation of the Eurasian Economic Union.

Monday the head of Armenian president’s administration Vigen Sargsyan said in his interview to Radio Liberty Yerevan’s decision to access the customs union does not mean a suspension of political dialogue with the European Union. He also said initialing of the association agreement with EU at Eastern partnership summit in Vilnius is still on Armenia’s political agenda.–0--