YEREVAN, June 17. /TASS/. Armenian producers will abandon using the word ‘cognac’ from 2043 within the framework of the enhanced partnership agreement between the EU and Armenia, and are discussing a new name so as not to lose its market, Acting Deputy Prime Minister Mger Grigoryan told TASS on Thursday.

"The Enhanced Partnership Agreement between Armenia and the European Union signed in 2017 stipulates abandoning the use of the word ‘cognac’ word when exporting brandy products in the context of protecting geographic names of the EU. Accordingly, Armenian producers will implement an appropriate marketing strategy and the government will help and assist them in this regard," the official said.

The requirement to drop the ‘cognac’ name in the agreement is dictated by the fact that the term is a protected geographic name. The EU will allocate financial aid of 3 mln euros under the Agreement.

Use of the ‘cognac’ name will be prohibited for the domestic market of Armenia since 2032, Grigoryan noted.

Armenian producers are proactively discussing new names to substitute for the word ‘cognac’. "I am not ready to disclose such details so far because major market players have no consensus so far. Concepts are in place, an information support program is under development but discussions and debate on these issues continue so far," the official added.

"Armenian brandy exports totaled about $500 mln over the last three calendar years, of which about 79% went to Russia," Grigoryan said.