Members of the European Parliament have "strongly welcomed" the entry into force of the Comprehensive and Enhanced Partnership Agreement between the European Union and Armenia on Monday, March 1.

A joint statement from the Chair of the Delegation for relations with the South Caucasus Marina Kaljurand and the European Parliament's Standing Rapporteur on Armenia Andrey Kovatchev said the milestone will create a solid basis for the further deepening of cooperation.

"Citizens and businesses of both Armenia and the EU have already benefitted from the provisional application of parts of the agreement. Its full application and effective implementation will bring more benefits, in particular as regards advancing Armenia’s modernization and reforms," the statement reads.

"Especially in the current difficult period for Armenia, we stress the value of our partnership and we look forward to working together to fulfil the potential of this new level of our ties.”

The scope of the agreement, first signed in November 2017, is comprehensive and covers a wide range of cooperation in economic, trade and political areas. The agreement develops these areas further; providing a long-term basis for further deepening EU-Armenia relations.