Armenia Strikes a Deal with the European Union
On November 24, 2017, the European Union and Armenia signed the Comprehensive and Enhanced Partnership Agreement (CEPA) in Brussels. The agreement is aimed at promoting economic and political cooperation between the two parties and marks a new stage in their bilateral relations.
The CEPA covers a range of areas including trade, investment, energy, transport, education, culture, and environment. It provides a framework for the strengthening of political dialogue and the promotion of human rights and the rule of law. It also sets out the conditions for the provision of financial assistance and technical cooperation to Armenia.
The agreement comes after several years of negotiations and replaces the Partnership and Cooperation Agreement (PCA) which was signed in 1999. The CEPA goes beyond the PCA in terms of its scope and ambition and brings Armenia closer to the European Union.
One of the key elements of the CEPA is the establishment of a deep and comprehensive free trade area (DCFTA) between the EU and Armenia. The DCFTA will liberalize trade in goods and services and will stimulate economic growth and job creation in Armenia. It will also help modernize the Armenian economy and align it with EU standards.
The CEPA is significant for Armenia as it reinforces its commitment to European values and its European choice. It also helps Armenia to diversify its foreign relations and reduce its dependence on Russia. For the EU, the agreement is part of its broader strategy of strengthening its neighborhood by promoting stability, security, and prosperity.
The CEPA is not without its challenges. The agreement must still be ratified by the European Parliament and by the national parliaments of the EU member states. Armenia must also continue its reform efforts and address issues such as corruption, human rights, and the independence of the judiciary.
Overall, the CEPA marks a positive step forward in the relationship between Armenia and the EU. It provides a framework for closer cooperation and deeper integration and underscores the shared values and aspirations of both parties. As Armenia looks to the future, the agreement provides a roadmap for its continued development and progress.