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Armenia, EU Complete Talks On Free-Trade Area

Map - Armenia
Armenia and the European Union have successfully concluded negotiations on the creation of a Deep and Comprehensive Free Trade Area (DCFTA).

The European Commission said in a statement that after a final round of talks in Yerevan, the two sides reached an agreement on July 24 on key aspects of the Association Agreement, which will create a new structure for trade relations between Armenia and the EU.

The statement said the DCFTA "will strengthen Armenia's economic integration with the EU by providing better market access for European and Armenian goods and services to each other's markets."

The Association Agreement is expected to be initialed in Lithuania at an Eastern Partnership summit in November.

Another former Soviet republic, Georgia, concluded DCFTA talks on July 22.

With reporting by Interfax