YEREVAN, JANUARY 24, NOYAN TAPAN. The development prospects of the Armenian gem and jewelry industry are connected to cooperation with Alrosa compamy (Russia), with the focus to be shifted from diamond cutting to jewelry making where Armenia will have relative advantages, the RA minister of trade and economic development Nerses Yeritsian stated at the Janaury 23 press conference. An agreement on cooperation in the gem and jewelry industry was signed between Alrosa company and the Armenian government in late 2007. The agreement envisages supplying Armenian companies with rough diamonds by Alrosa through direct contracts - for their later sale to Russian or Armenian jewelry making companies on the instructions of Alrosa OJSC. The ministry's monitoring showed that production of 43.2 bln drams (about 126.3 mln USD) was made in Armenia in 2007, production of 38.4 bln drams was sold, that of 41.5 bln drams was exported. The sector employs about 2 thousand people, whose average salary makes 64 thousand drams. A complex program of the sector's reforms is being developed.

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