Armenian President Serzh Sargsyan and President of the European Commission, José Barroso, officially launched the negotiations for Deep and Comprehensive Free Trade Area (DCFTA) between Armenia and the EU.

Mr. Barroso issued a statement following the meeting with President of Armenia Serzh Sargsyan.

It reads as follows,

“We fully support the President's reform and modernization agenda, and we remain committed to deepen our engagement with Armenia in the framework of the Eastern Partnership.

Indeed, we are now ready to launch talks on a Deep and Comprehensive Free Trade Area, which is part and parcel of the Association Agreement that we are already negotiating with Armenia. This is to a large extent, the result of Armenia's efforts to comply with our 'key recommendations'.

The opening of the DCFTA negotiations marks a turning point in our trading and economic relationship, providing new opportunities for our citizens and businesses. This is also a sign that our ties are getting stronger.

Armenia should now continue to advance in its trade and trade-related reforms and work towards reaching a stable, transparent and predictable economic environment. This is essential, we believe, to attract foreign investment and also to stimulate growth and job creation.

The relationship between the European Union and Armenia is not only about the economy or trade or mobility, we have discussed these issues. But it is also about the universal values that we share. Democracy, fundamental rights and the rule of law are at the core of the Association Agreement that we are negotiating with Armenia and they are the solid foundations of our present and also our future relations.

The next parliamentary and presidential elections will be an important benchmark in Armenia reform's path. I am reassured by the President’s commitment that these elections will be conducted in accordance with democratic international standards,” according to official EU website.