Armenia has been a member of the Commonwealth of Independent States (CIS) since 1991. With both ciS countries and Georgia, it became free to trade. In addition, Armenia has been a member of the World Trade Organization (WTO) since 2003. For more information on tariffs and trade, visit the WTO page. The current bilateral trade relationship between the EU and Armenia is governed by a comprehensive and improved partnership agreement. The agreement has been provisional since June 2018. Trade agreements are fiscal, tariff and trade agreements that increase economic activity, bring investment and are signed by two or more countries. The most frequent trade agreements are free trade and free trade, which are signed to reduce (or remove) tariffs, quotas and other trade restrictions imposed on intermediaries. They outline both what has been agreed and the impact of the agreement. In addition, barriers to trade in services between the EU and Armenia will be removed. Armenia is qualified for export to the EU under the GSP and enjoys beneficiary status with Canada, Japan, Norway and Switzerland. This means that Armenia has access to these markets at 0% or at reduced rates. Bilateral trade relations between the EU and Armenia are governed by the comprehensive and extensive partnership agreement, which has been on an interim basis since June 2018.
Currently, trade with the EU accounts for about 23.6% of the country`s total trade, making it the second largest source of imports. Metal and ore are the main trade items on the list. In 2018, the United States also expanded its preferential tariff system with Armenia. In 2015, Armenia became a member of the EAEU and ensured the free movement of goods, capital, services and labour. This means a common market for goods, tariffs, customs and non-tariff regulations. In addition, Armenia and the EU signed a Comprehensive and Extended Partnership Agreement (CEPA) in 2017. This opened the door to free trade with Vietnam and economic cooperation with Cina. A free trade agreement was also signed with Iran in 2018, but it has not been in force since January 2019. Armenia has signed several trade agreements of various calibers. The comprehensive and comprehensive partnership agreement aims to further improve trade between the EU and Armenia by improving the regulatory environment for businesses. These include areas such as: the EU and Armenia meet regularly to discuss issues related to the implementation of the comprehensive and comprehensive partnership agreement.