The Government of Armenia approved at a meeting on Thursday financial agreement with the EU, providing for the provision of Yerevan 3 million euros as part of a process of smooth refusal to geographical indication of “Cognac” for Armenian alcoholic beverages, RIA Novosti reports.
“The program provided for by the Agreement is funded from the EU budget within the European Neighborhood Tool. The total cost is 3 million euros. The purpose of the financial agreement is to promote the smooth and effective termination of the use of geographical instructions of” Cognac “for Armenian products, as well as to help the Armenian industry to maintain their own Competitiveness in export markets, “- said in the decision of the Armenian government, the project of which presented the Minister of Economy Vaan Kerobyan.
in Yerevan emphasize that the project is implemented in accordance with the Comprehensive and Extended Partnership agreement with the EU. The program provides for the development of a new name for Armenian brandy and its advertising in foreign markets.