YEREVAN, December 10. / ARKA /. Armenian jewelry companies are able to process 2 tons of gold a year, according to Emil Grigoryan, the head of Gnomon jewelry factory and chairman of the Association of Jewelers and Diamond Producers.
According to him, Armenia-produced gold is sent to various countries for processing and purification and Armenian jewelers have to buy it abroad.
"We need to make some changes to the tax legislation that will allow the final processing and purification of the raw gold in the territory of Armenia,” he said.
He said production of one ton of gold alloy requires 150 kg of pure silver and 400 kg of pure copper, which Armenia has, but there is no technology to obtain pure product.
According to the National Statistical Service, jewelry production in January-October 2013 totaled 15.1 drams, an increase of almost 22 percent compared to the same period in 2012. The volume of diamond production in the same time span amounted to 73,572 carats, an increase of 47.8 % compared with January-October 2012.
Exports of precious and semiprecious stones, precious metals and products in the first ten months of this year soared by 11.4 percent to $155.2 million, while imports of the same types of products amounted to $244.2 million (up 67%). ($ 1 - 406.80 drams). -0-