On September 15, the European Parliament of the European Union (EU) will vote on the draft law on temporary measures for the liberalization of trade for goods from Armenia.

The document provides for the temporary abolition of import duties for about 80% of Armenian exports to the EU.

The matter is put on the agenda of the European Parliament’s plenary session, which will take place on September 14-17 in Strasbourg, France.

It is about the draft law on temporary measures for the liberalization of trade for goods from Armenia.

On September 2, the EU Council had approved, without amendments, the European Commission's aforesaid proposal, paving the way for its swift final passing by the European Parliament.

The proposed measures provide for a temporary suspension of EU customs duties on a wide range of Armenian goods. In addition, tariff quotas will be in place for certain agricultural products, and the preferential regime will be accompanied by protective mechanisms for the European market.

After the formal approval of the European Parliament's position, the EU Council must ratify this regulation.

The document will enter into force the day after its publicizing in the EU Official Journal and will be applied for two years.

The EU Council has stressed that amid current Russian trade restrictions on Armenia, the EU's new measures are aimed at supporting the Armenian economy, as the Russian restrictions had hit Armenian exports and transit.

According to the proposal, the preferential regime will operate only if Armenia complies with a number of conditions, including rules of origin of goods, administrative cooperation with the EU, the exclusion of new import restrictions from the EU, as well as compliance with key provisions of the EU-Armenia Comprehensive and Enhanced Partnership Agreement (CEPA).