YEREVAN, March 19. / ARKA /. Armenia’s diamond cutting industry may see a 15 % surge this year as a result of supplies of import duty-free rough diamonds from Russia, Armenian economy minister Vahram Avanesyan said today.
He said this when introducing a draft government decision on the registration of legal entities and individual entrepreneurs engaged in diamond processing. Under this decision the ministry of economy is the authorized agency to handle the registration.
He said the decision stems from a cooperation agreement between the governments of Armenia and the Russian Federation in the fields of gas, petroleum and rough diamonds. According to the agreement, Armenian companies can not re-export Russian diamonds.
According to official data, in 2013 Armenian diamond production surged by 41 percent to 94,498 carats. -0-