EU-Armenia trade turnover grows by 19%: GSP+ system contributes to facilitation of export

Armenia’s trade turnover with the member states of the European Union has recorded a major growth in 2018, comprising 1 billion 830 million 74 thousand USD, moreover, the export grew by nearly 8%. The GSP+ privileged trade regime and the new electronic system for certification of origin of goods greatly contributed to the boosting of the commercial relations and the facilitation of the export process.

Artur Maysuryan, head of the Department of Cooperation with the EU at the ministry of economic development and investments, gave an interview to ARMENPRESS on the topic.

“The Armenia-EU Comprehensive and Enhanced Partnership Agreement creates preconditions for improving the trade regulation and investment environment between Armenia and the EU through more active bilateral cooperation in a number of sectors, ensuring transparency of commercial environment, exchange of experience and elimination of barriers. By this, in particular, the partnership in intellectual property rights, competitiveness protection, customs affairs, technical barriers of trade and other areas will be improved. All these factors create preconditions for the business to raise stability and predictability, further intensify the business ties and contacts between the sides, deepen and develop the cooperation in all areas, and raise the bilateral ties to a qualitatively new, higher level”, he said, stating that this will, of course, positively affect the intensification of commercial relations.

According to the data of the National Statistical Committee, Armenia’s trade turnover with the EU states increased by 19% in 2018, comprising 1 billion 830 million 74 thousand USD, against the 1 billion 537 million 564 thousand USD of 2017. Among the EU states, the greatest trade turnover volume was registered in Germany – 427 million 993.3 thousand USD, against the 334 million 279.5 thousand USD of January-December 2017, increasing 28%.

The export volume from Armenia to the EU states in 2018 comprised 683 million 847 thousand USD, against the 633 million 757 thousand USD, increasing 7.9%. The greatest export volume from Armenia to the EU states was registered in Bulgaria – 215 million 270 thousand USD, although compared to the previous year, this figure declined by nearly 23.8%. The next biggest export volume was recorded to Germany – 136 million 79 thousand USD, increasing by 2.2% as compared to 2017. The third largest share of export belongs to the Netherlands – 132 million 356 thousand USD, increasing 49.4% compared to 2017.

The ministry of economic development and investments informed that among the goods exported from Armenia to the EU states are copper ores, fertilizers, aluminum foil, alcoholic drinks, precious stones and metals, molybdenum and etc.

The ministry said that another factor also contributed to the facilitation of the export process to the EU states. Since January, 2018, Registered Exporter System-REX, an online system of certification of origin of goods that applies in the Generalised System of Preference (GSP+) of the EU, has been introduced in Armenia. This system enables the exporter to cut the expenses and save time.