Free Trade Agreement Between The European Union and Armenia: How Feasible Is It?
Armenia is a country where the GDP per head is comparable to that of Bulgaria. Although considered low by European standards, Armenia’s economy has made significant progress and experienced rapid growth since the early years of transition from command to market economy. Armenia has been a WTO member since 2003 and present EU-Armenian bilateral trade relations provide for most-favoured nation (MFN) status giving Armenian products better access to EU markets. The EU is Armenia’s largest trade partner, comprising almost 70% of the country’s exports and almost 50% of its imports. Currently, Armenia’s trade regime benefits from low levels of EU tariffs under the EU’s Generalized System of Preferences (GSP) Agreement as well as non-tariff protection measures.
For the full report on the Economic Feasibility, General Economic Impact and Implications of a Free Trade Agreement Between The European Union and Armenia, see CASE Network Report No. 80.