Armenia to launch third subsidy package for companies exporting to the EU

Armenia is preparing a third package of subsidies for companies exporting their products to the European Union.

The initiative is aimed at diversifying export markets and reducing the country’s dependence on a single destination after Russia imposed restrictions on a range of Armenian goods.

The programme provides financial support to exporters of agricultural products, including fresh fruit, vegetables and flowers. Armenian authorities have also indicated that additional support measures could be extended to other product categories.

At the same time, the European Union is preparing an economic support package worth more than 50 million euros for Armenia to help businesses expand into new markets and offset the impact of the trade restrictions.

By N. Tebrizli