Armenia to join GSP+ in 2009

PanARMENIAN.Net - The European Union offered Armenia to join the new GSP+, which grants duty-free access to the EU for approximately 7,200 products (natural juices, fruits, vegetables, etc.) from small and vulnerable countries that have ratified the major multilateral environmental agreements (MEAs) as well as key human rights and governance agreements.



Generalized System of Preferences (GSP) is the system of preferential trading through which the EU extends preferential access to its markets for imports from developing countries.



"In 2007, the GSP allowed Armenia to export over 2000 names of goods at reduced rate to the EU member states and save 120 million euro of the impost fee," Armenian Deputy Minister of Economy Mushegh Tumasyan told a news conference in Yerevan.



"GSP+ will help Armenia increase commodity turnover and represent its brand in the world market," said Gagik Markaryan, executive director of the republic's union of employers.