The Armenian government has established a privilege for exports to the European Union
During its January 23 session, the government established a privilege for exports to the European Union, which will be valid from February 1, 2025 to December 31, 2026. The goal of the project is to contribute to the positioning of local products in international markets at the initial stage of export and increase the competitiveness of Armenian products.
In his speech, Gevorg Papoyan noted that with this support, they expect to increase exports to the EU by 15-20 percent each year.
The initiative will enable companies that export their products to the 27 countries of the European Union and the United Kingdom to receive support in the amount of customs duties when exporting certain product groups. The privilege will not apply to the export of tobacco products, basic metals, jewelry, and non-precious jewelry. But it concerns a number of other products, which we export to the European Union markets in a fairly large volume, in particular, the export of food industry, textile industry products, aluminum foil, etc., – noted Gevorg Papoyan.
It is planned to take as a basis for calculating the amount of assistance the amount calculated by the customs value of the goods declaration of the exporting country and the amount calculated by the customs duty rate actually applied in the importing country. Moreover, the assistance will be provided in the amount calculated in accordance with the customs duty rate established for that product by the legislation of the importing country, if a zero customs duty rate is not established for the import of the given product in the importing country.
The justification for the project states that it focuses on the EU countries and the UK, taking into account the high quality standards operating in these markets. The 27 EU countries have a population of about 450 million, which is a large market for Armenian companies.