EU official says stability in Armenia 'key to future investments'

The European Union is interested in future economic reforms in Armenia to create an investment-friendly atmosphere, but to realize the plan it expects, first of all, to see stability in the country, Petros Surmelis, Head of the European Commission (EC) Directorate-General for Trade, said in Yerevan.

Speaking to reporters after the EU-Armenia Trade Cooperation Committee's first meeting, the European official said they also rely on the Comprehensive and Enhanced Partnership agreement as a substantial tool enabling future expanded cooperation. He said that the agreement reaffirms the clauses facilitating trade in the GPS+ regime. Mr Surmelis said they plan to also elaborate new regulations to ensure equal competitions and rule out monopolies.

Addressing the EU-Armenia trade turnover, Surmelis said they find the existing statistics very impressive “but still see certain gaps in the imports and exports” (particularly due to the decreased export of the Armeniuan agricultural produce to the EU market).

Mr Surmelis, who is also the European co-chair of the Committee, said EU investors need certainty and stability to realize their projects in Armenia.

The agenda of the Committee’s first meeting covered particularly the EU-Armenia agreement, addressing such vital issues as goods and services, customs procedures, intellectual property rights, competition and procurements. The participants also discussed bilateral trade opportunities in the frameworks of the cooperation document.

The Armenian co-chair of the Committee is Mane Adamyan, a deputy minister of economic development and investments.