ArmInfo.The EU GSP+ will not be available to Armenian exporters from January 1, 2022. EU's GSP removes import duties from products coming into the EU market from vulnerable developing countries. This helps developing countries to alleviate poverty and create jobs based on international values and principles, including labour and human rights.
The press service of Armenia's Ministry of Economy reports Armenia has been a GSP+ beneficiary since January 1, 2009. A country stops being a beneficiary if the WB lists it among the countries with high or above the average income countries for three successive years, with a 1-year transition period for the country.
"From 2017 to 2019, the WB listed Armenia among the countries with per capita incomes above the average. Therefore, the year 2021 has been a transitional year for Armenia, and the country will stop being a GSP+ beneficiary," the report reads.
On the other hand, Armenia is a GSP beneficiary in such countries as the U.S., Canada, Switzerland, Japan and Norway. Armenia enjoys free trade with Ukraine, Turkmenistan, Tajikistan, Moldova and Georgia.
