Yerevan/Mediamax/. European External Action Service Spokesperson Maja Kocijancic told Mediamax that the new agreement, which is to be signed by Armenia and the European Union, will be «ambitious” and will strengthen cooperation between the parties.

On March 21, the EU and Armenia initialed the Comprehensive and Enhanced Partnership Agreement in Yerevan.

“It [the agreement] will broaden the scope of EU-Armenia relations, taking into account the new global, political and economic interests shared by both sides and the challenges we want to face together,” Ms Kocijancic said in the interview to Mediamax.

She reminded about the “last-minute decision by Armenia in 2013 not to sign the Association Agreement and the Deep and Comprehensive Free Trade Area with the EU”.

According to Maja Kocijancic, the Comprehensive and Enhanced Partnership Agreement will cover political, economic and sectorial cooperation. The agreement counts about 400 pages and is comprised of 8 different Titles.

“Shared common values and a strong commitment to democracy, human rights and the rule of law underpin the new Agreement and our future cooperation. These will create favorable premises for stronger cooperation in sectors such as energy, transport, and the environment; for new opportunities for both sides’ trade and investment; but also for increased mobility to the benefit of our citizens,” the EU representative told Mediamax.

The trade-related provisions of the agreement aim at improving conditions for bilateral EU-Armenia trade, while taking into account Armenia’s obligations resulting from its membership of the Eurasian Economic Union.

“The EU has repeatedly mentioned that there was no contradiction for a country to be a member of the EAEU and to have separate agreements with the EU. As membership of the EAEU requires the transfer of sovereignty of trade policy to the EAEU itself, the only impossibility is to have an agreement with the EU which includes preferences on trade in goods,” Ms Kocijancic explained.

“Closer economic cooperation is envisaged by ensuring a better regulatory environment for economic operators in areas such as trade in services, the establishment and operation of companies, capital movements, government procurement and intellectual property rights,” Maja Kocijancic said.

She noted that upon going through various internal procedures including translation and procedures within the Member States, the draft agreement will be prepared for signature.

“What is important is that the negotiations were successfully concluded, and that we are now working towards having the agreement signed as soon as possible,” Maja Kocijancic said.