The European Union-Armenia Comprehensive and Enhanced Partnership Agreement (CEPA) will officially come into force on March 1 after three years of ratification as the agreement was signed back in November 24, 2017.
The Armenia Foreign Ministry said in a statement marking the completion of the ratification process that the agreement propels the bilateral ties between Yerevan and Brussels to a new level. The document regulates both political and economic dialogue between the parties, TASS reports.
The diplomatic agency notes that it provides a stable legal basis for the partnership, outlining cooperation in various spheres, particularly in justice, security, economy, agriculture, education, science, culture and healthcare.
"Effective implementation of the agreement will yield tangible results for Armenian citizens, facilitate strengthening of democracy as well as political, economic and social stability through large-scale reforms and with time will influence welfare and living standards," the ministry says.
The document also considers peaceful resolution of the Nagorno-Karabakh conflict. In light of this, the EU reaffirmed its commitment to supporting efforts and approaches of the OSCE Minsk Group co-chairs.