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Due to end of GSP +, exports from Armenia to EU will fall by 20%, jobs will be cut – economist
ECONOMY
24.12.2021 | 16:46
The end of EU’s GSP + privileged trade regime will have a negative impact on several sectors, including the export of foil and the export of textile products; we will also have problems with US exports, economist Haykaz Fanyan said at the discussion titled “The EU GSP + privileged trade regime ends for Armenia. Are the producers ready?”
The decline in exports from Armenia to the EU will amount to about $ 114 million, i.e. it will drop by about 20%, and jobs will be cut, Fanyan stressed. He added that Armenia may have problems with copper-molybdenum exports.
From his part, former Deputy Minister of Economy Garegin Melkonyan said that the regime provided an opportunity to have privileged opportunities to export goods of Armenian origin to EU countries, without paying customs duties.
“The EU is a potential partner for Armenia, the Armenia-EU relations should be taken seriously, and those relations should be kept on the balance of positive dynamics. With the termination of the GSP + regime from January 1, customs duties will increase and the REX system will stop,'” Melkonyan said.
Due to end GSP +, exports from Armenia to EU will fall by 20%, jobs will be cut – economist
