OREANDA-NEWS. On 09 April 2008 was announced, that the co-chairman from the Armenian side was Deputy Minister of Trade and Economic Development Mr. Vahe Danielyan, and the European side was represented by Mr. Andres-Maldonado, Head of Unit, Southern Caucasus and Central Asia Unit (RELEX).

Representatives from Armenian ministries, H.E. Raul de Luzenberger, Ambassador, Head of the EC Delegation to Armenia, other members of the Delegation and representatives from the European Commission participated in the meeting.

During the meeting the following topics were discussed - implementation of Partnership and Cooperation Agreement signed between RA and EU and issues related to the implementation of the ENP Action Plan, including Armenia’s economic development since the previous meeting, and improvement of the investment and business climate.

The parties also discussed possible options for further strengthening bilateral trade relations, including the state of play of the EU feasibility study on the possible creation of a Free Trade Area between the RA and the EU, the possible granting of Market Economy Status by the EU to Armenia, and possibilities for Armenia to benefit more from the EU’s Generalized System of Preferences and to perhaps gain access to the EU’s enhanced Generalised System of Preferences known as GSP+..

Background

On April 22, 1996 Partnership and Cooperation Agreement (PCA) was signed between the Republic of Armenia and the European Communities and its Member States. It entered into force on July 1, 1999.

The Subcommittee on Trade, Economic and Related Legal Issues is one of the joint bodies established under the PCA. The first Subcommittee session was held in Yerevan on July 18, 2000, the fifth - on April 20, 2005 and the sixth one on April 26, 2007 in Yerevan.

Additional information
European Union is the first trade partner of Armenia.

Trade turnover with EU countries in 2007 – 2760.7mln USD, in 2006 - 1219.5mln USD , growth - 226.4% Export to EU countries in 2007 - 566.4mln USD, in 2006 - 473. 5mln USD, growth - 119.6%. Import by countries of origin in 2007 - 2194.3mln. USD, in 2006 - 746.0mln USD, growth - 294.1%:

European Union countries in total: trade turnover in 2007 - 62.2%, in 2006 - 38.4%, export in 2007 - 48.9%, in 2006 - 48.1%, import in 2007 - 66.9%, in 2006 - 34.6%
Investments made by EU countries in Armenia in 2001-2007: general investments - 681.7mln USD, direct investments - 536.2mln USD.