YEREVAN. – Armenia will expand and deepen cooperation with the European Union, Economy Minister Karen Chshmarityan said.

In 2014, the EU finalized talks on funding a program of Support to Agriculture and Rural Development amounting to € 25 million. In addition, EU will support development of the regions, cooperation in nuclear sector, regulation of migration and border management.

In November Armenia and EU signed a memorandum of understanding on EU assistance to be provided to Armenia. Accordingly, from 2014 to 2017, the EU will allocate Armenia around 140-170 million euros for private sector development, state governance, and justice reforms in the country. 

In addition, European Commission continues the first stage of monitoring GSP+ trade preferences for Armenia. The report on legal compliance was considered acceptable, and operation of preferences for the country will continue.