News/Press

The EU supported 78,995 SMEs in the Eastern Partnership countries in 2019
23/11/2020
EU4Business has published the Citizens’ Summaries for the 6 EaP countries with the overview of major results of the past year in the region and per country. In 2019, 78,995 SMEs were supported through the EU4Business Initiative, generating an extra €1.3 billion in income and 117,254 new jobs, growing their turnover by 16.1%, and increasing their exports by 5.9% as a result. See the detailed...
Online course helps Azerbaijani businesses improve trade logistics management
Azerbaijan
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05/09/2020
Modern trade requires goods to be purchased, stored, handled and transported in the most effective manner across the globe. To that end, effective logistics management is key in helping companies reduce cost, improve product availability, shorten delivery times, all the while providing a service of quality to the customers, leading to an improvement in their capacity to compete in global markets...
Weekly Digest on Impact on SMEs in EAP (10 July)
10/07/2020
Armenia Armenia gets one-year customs tax break within the framework of the Eurasian Economic Union. Lower rates than the single EEU customs tariffs shall be applied in Armenia for more than 600 items of goods imported. https://bit.ly/2CgClbe Another nationwide lockdown may be imposed if Armenian hospitals are no longer able to cope with the continuing spread of the coronavirus. Prime Minister...
Weekly Digest on Impact on SMEs in EAP (July 3, 2020)
03/07/2020
Armenia VTB bank joins the governmental 3 rd assistance action programme aimed at mitigating the liquidity risk of SMEs to offset consequences of coronavirus pandemic jointly with the Ministry of Economy and the Investment Support Center. It enables small businesses to claim loans at 0% rate in the first 2 years, and 12% for the rest of the maturity period (the effective annual interest rate is 1...
Weekly Digest on Impact on SMEs in EAP (June 26, 2020)
26/06/2020
Armenia 820 SMEs have already received assistance from the Armenian government through its 3 rd action. Ministry of Economy suggests applying for preferential loans up to a maximum of 50mln AMD (more than US$ 104,500) by June 30, 2020. https://bit.ly/3i4QJnI 50,094 jobs restored in Armenia after coronavirus-related strict restrictions were lifted in May . Nikol Pashinyan, the Prime Minister of...
Fresh food producers from Africa and Eastern Europe take part in innovative virtual trade fair
Fresh food producers from Africa and Eastern Europe take part in innovative virtual trade fair
18/06/2020
ITC supported dozens of companies to participate in 2020’s entirely virtual United Fresh LIVE! trade fair Dozens of fresh produce companies trading in everything from avocados to hazelnuts from Africa and Eastern Europe have participated in a unique online edition of a leading fruit and vegetable trade fair. ITC experts assisted the companies in navigating the novel format of United Fresh LIVE!...
COVID-19: Weekly Digest on Impact on SMEs in EAP (June 12, 2020)
12/06/2020
Armenia Armenia is unlikely to have 2020 tourism season, Armenian Tourism Association states. “Keeping the positions for 3 months, the tourism sector gives up by cutting the staff”, reads the statement raising the issue of Armenia’s land border with Georgia staying closed. Read More Face masks in Yerevan available from self-service machines. A joint effort of “Tavish textiles”, Tavish region-...
Weekly Digest on Impact on SMEs in EAP
05/06/2020
Armenia 8,923 beneficiaries received a total of 1.7 billion AMD (more than US$ 3.5 million) from the Armenian government within the 18th measure aiming to pay every fifth employee’s salary to those employers and companies that have saved their jobs and payroll amount during the Covid-19 pandemic. Read More 19th measure to neutralize Covid-19 economic consequences in Armenia is to assist the...
EU4Business Launches Covid-19 Information Support Webpages in 6 EaP countries
28/05/2020
In the wake of the global coronavirus pandemic, the resilience of small and medium enterprises has been put to the ultimate test. The EU4Business team perfectly understand that SMEs face challenges to keep their business afloat. Entrepreneurs find it difficult to regularly adapt to newly-emerging regulations and market requirements, maintain the workforce, seek investments and continue operations...
COVID-19: Weekly Digest on Impact on SMEs in EAP (22 May)
25/05/2020
Armenia The state of emergency in Armenia is extended for 30 days till June 13, while financial and economic activities can be undertaken under specific conditions. Read More A total of 84.4 billion AMD (about US$ 175 million) have been distributed by the government as of May 16, 2020 to 48,400 legal entities and more than 1 million individuals. With the 3rd measure dedicated to SMEs, the...