EUROPEAN COMMISSION EXPERTS TO DECIDE WHETHER ARMENIA IS MARKET ECONOMY OR NOT

ARMENPRESS
Apr 09 2007

YEREVAN, APRIL 9, ARMENPRESS: Deputy trade and economic development
minister Tigran Davtian said last week a team of experts from the
European Commission will arrive here on May 8 for a final monitoring
of Armenian economy and relating legislation to decide whether to
grant it the status of market economy or not.

Davtian said the European Commission then will be expected to make
its final conclusion by the end of the year. He said only two former
Soviet republics from the Commonwealth of the Independent States
(CIS) have been granted this status.

The deputy minister said if granted that status Armenia would get
down to work to qualify for the General System of Privileges (GSP),
which envisages that Armenian businessmen would not pay customs duties
when trading with the European Union.

The next move would be to start talks with the EU to pass to free
trade zone as part of Wider Europe, New Neighbors program.