EU Boosts Armenia With Aid and Trade Concessions

On Thursday, the EU pledged an additional €18m ($20.5m) in economic assistance to Armenia and eased market access for Armenian exports. The measures are intended to strengthen the South Caucasus country as it faces growing trade pressure from Russia.

In the run-up to June's parliamentary elections, Russia imposed sweeping restrictions on key Armenian exports, including fish, flowers and alcoholic beverages. The vote was won by Prime Minister Nikol Pashinyan's pro-Western Civil Contract party.

Moscow accused Western countries of interfering in the election. Armenia remains a member of the Eurasian Economic Union, and Russia accounted for 35% of its foreign trade last year, compared with 11% for the EU.

During a visit to Yerevan, European Commission President Ursula von der Leyen told Pashinyan that the EU would eliminate tariffs on nearly 80% of Armenian exports, giving the country improved access to the bloc's market of around 450 million consumers.

The new funding forms part of a broader €52m ($59.3m) assistance package announced in June. During a visit to Azerbaijan on Wednesday, von der Leyen also announced a €200m ($228m) grant for infrastructure and connectivity projects across the South Caucasus, aimed at supporting the peace process between Armenia and Azerbaijan.

(reuters, max)