The European Union will provide an additional €18 million in aid to Armenia, President of the European Commission Ursula von der Leyen said during a joint press conference with Armenian Prime Minister Nikol Pashinyan, APA reports.
She said the funds will be used to strengthen and diversify Armenia's trade relations.
“For example, this amount could be used to establish an Export Development Agency in Armenia and increase the export potential of Armenian businesses. The €18 million is the final tranche of the €52 million assistance package,” the President of the European Commission noted.
According to the EU leader, autonomous trade measures have also been proposed for Armenia, which will liberalize approximately 80% of the country's exports to Europe.
“This means that 80% of Armenia's trade with the European Union will be exempt from tariffs,” she said.
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