Armenia is planning to submit the new agreement signed with the European Union to the parliament for ratification by the spring of 2018, deputy foreign minister Karen Nazaryan said on Tuesday, December 19, addressing the 17th session of the EU-Armenia Parliamentary Cooperation Committee.

The Comprehensive and Enhanced Partnership Agreement which the sides signed on November 24, must now be ratified by Armenia and the 28 members of the European Union.

Also Tuesday, Armenia's deputy parliament speaker Eduard Sharmazanov said Yerevan hopes that Germany will ratify the new agreement as soon as possible

Earlier, the head of the bloc's delegation to Armenia Piotr Switalski said the European Union is planning to increase allocations for Armenia by 20-25%.