YEREVAN.- Talks on Armenia-EU Association Agreement have reached the final stage, chief negotiator Gunnar Wiegand told reporters on Wednesday.

All the issues of political bloc have been agreed on and trade negotiators are going to hold two rounds by the time of Vilnius summit.

Gunnar Wiegand believes the agreement will mainly promote modernization of business environment in Armenia. He noted that both sides must take efforts to make clear the use of the agreement, adding that the EU will closely cooperate with Armenian government in this regard.

Chief negotiator said it is not an abstract agreement which will come into effect in many years. Next year it will be applied in several sectors, in particular economy.

Gunnar Wiegand is hopeful the sides will ratify agreement by the time of Vilnius summit and are likely to sign it in the first half of 2014.