Armenia working to harmonize its legislation for mutual recognition of gold items hallmarks with Iran and Russia

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Economy

06.04.2010, 17:26

Gagik Kocharian, head of a ministry of economy department in charge of trade and market efficiency, said the ministry is working to harmonize national legislation for mutual recognition of gold items hallmarks with Iran and Russia.

YEREVAN, April 6, /ARKA/. Gagik Kocharian, head of a ministry of economy department in charge of trade and market efficiency, said the ministry is working to harmonize national legislation for mutual recognition of gold items hallmarks with Iran and Russia.

He said apart from revising the national legislation some other measures will have to be implemented that will allow to certify Armenia-produced jewelry in line with international standards. He said reciprocal recognition of hallmarks is expected to facilitate the process of export of Armenian jewelry and goldsmith produces.

‘The process has begun but having in mind the risks of this sector, it may protract,’ he said.

According to the National Statistical Service of Armenia, production of jewelry and goldsmith items last year slashed by 16.1 percent from 2008 to 733.8 kg. According to the ministry of economy, export of jewelry and gold items in 2009 shrank to $10.7 million from $22.6 million in 2008. -0-

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