Tuesday, September 25 2018 15:02
Alina Hovhannisyan

EU Ambassador: The priorities of the new government of Armenia at the  strategic level are quite sufficient to protect investors

EU Ambassador: The priorities of the new government of Armenia at the  strategic level are quite sufficient to protect investors

ArmInfo. "The European Union attaches great importance to the establishment of a  constructive dialogue with Armenia," Head of the EU delegation to  Armenia Piotr Switalski stated at the opening of the first meeting of  the European Union- Armenia Partnership Committee in Trade  configuration under the Comprehensive and Enhanced Partnership  Agreement (CEPA) on September 25.

He stressed that the changes in Armenia are considered as an  incentive for progress. "We see that the priorities of the new  government, first and foremost, become a powerful lever for the  development of relations in the trade and investment fields, and,  secondly, at the strategic level are quite sufficient to protect the  interests of investors," said the EU Ambassador to Armenia. In this  vein, he noted the fight against corruption. The eradication of  corruption will give Armenia the opportunity to find new partners and  will become a guarantee for the European companies in terms of  increasing interest in the Armenian business environment," the  diplomat noted.

As a second priority, Switalski called the independence of the  judiciary, which will also contribute to building partnership, as it  plays an important role in protecting investors. "I think that the  current government knows perfectly well what to do," he said.

In turn, Petros Sourmelis, Head of Unit (E2) of European Commission  Directorate General for Trade added that the reforms implemented by  the new government will only strengthen cooperation with the EU and  contribute to the further development of trade relations. In  particular, he stressed the importance of Armenia's signing of the  Comprehensive and Enhanced Partnership Agreement with the European  Union (CEPA), which marked a new stage in the country's development  and will provide an opportunity to implement the planned reforms,  improve the business climate, attract foreign investment, and reduce  poverty. In this regard, Sourmelis expressed readiness on behalf of  the EU to assist Armenia in the implementation of the tasks outlined  by the new government. 

To note during the meeting the parties will discuss topics included  in the Trade and trade related matters title of CEPA, including Trade  in goods and services, Customs, Intellectual property rights,  Sanitary and Phytosanitary measures, Competition and Public  procurement. The parties will go into draft road maps for the  implementation of the Trade related chapters of CEPA. Issues related  to WTO, GSP+ monitoring, and other topics of mutual interest will be  also discussed.

According to the National Statistical Service of Armenia, the foreign  trade turnover between Armenia and the EU in January-July this year  exceeded $ 1 billion, which is more than the indicator of the preious  year by 36.1%. In particular, exports increased by 22% to $ 432.4mln.  , with an increase in imports of 47.8% to $ 633.3 million. The  European Union ranked second in the list of Armenia's trade partners,  with a share of 26%, somewhat behind the EEU, whose share was 26.4%. 

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