Armenia is interested in establishing cooperation with Congo in the diamond industry
YEREVAN, April 9. /ARKA/. Armenia is interested in signing an intergovernmental agreement (G2G) with Congo to establish long-term cooperation between the diamond industry workers of the two countries, said Armenian Minister of Economy Gevorg Papoyan.
“In this context, the Armenian side is particularly interested in discussing the possibility of creating sustainable and predictable supply routes for rough diamonds,” Papoyan said at a meeting with Congolese Deputy Prime Minister Ghislain Nyembo Mbwiza on Tuesday during his working visit to the UAE, according to the press service of the RA Ministry of Economy.
According to him, Armenia is not seeking short-term profits, but rather a stable and mutually beneficial partnership based on trust and shared values.
Armenia is also considering the possibility of purchasing and importing rough diamonds from Angola. The day before, Papoyan informed Angolan Minister of Industry and Trade Rui Miguens de Oliveira that Armenia could annually import up to 1.5 million rough diamonds from Angola and process them in Armenia.
According to the Ministry of Economy’s report "Socio-economic Situation of the Republic of Armenia / January - December 2024," diamonds worth $500.9 million were imported to Armenia last year (a 6.4% annual increase). This is one of the five main categories of goods imported to Armenia in 2024, alongside gold ($5.9 billion), telephone and telegraph equipment ($827 million), natural and liquefied gas ($556.3 million), and cars ($520.1 million).
According to Armstat, in January-February of this year, imports of goods in the category "precious and semi-precious stones, precious metals, and products made from them" decreased by 86.7% compared to January-February 2024, totaling $234.9 million. Exports in the same category for the reporting period decreased by 82.1%, amounting to $323.3 million.
