Around 80% of exports from Armenia to the European Union would enter the bloc duty-free under plans unveiled by the European Commission on Thursday.
"With this, we can re-route products that currently still rely heavily on the Russian market and send them to the European Union Single Market of 450 million consumers," European Commission President Ursula von der Leyen said in the Armenian capital Yerevan.
Almost 99% of Armenian exports of fruit, vegetables and plants could then be shipped to Europe rather than Russia and more than 90% of Armenian exports of beverages and spirits would gain access to the EU single market, von der Leyen added.
The measure still requires approval from EU member states and the European Parliament.
According to EU figures for 2023, Armenia's exports to the EU have risen in recent years to an average of just under €400 million ($458 million).
EU and Armenia seek closer cooperation
In early June, the European Commission announced that it would provide the country with €52 million to help it diversify its trade relations.
Bordering Turkey, Georgia, Iran and Azerbaijan, Armenia has been steadily deepening its relationship with the European Union after decades as a close ally of Moscow. The EU has become an increasingly important partner in areas such as trade and investment, and a comprehensive partnership agreement between the two sides has been in force since 2021.
Brussels has a broader geopolitical interest in drawing countries such as Armenia closer to the bloc. As Russia's influence in the South Caucasus declines, the United States under President Donald Trump has also stepped up its engagement in the region.
