DEVELOPOMENT PROSPECTS OF ARMENIAN GEM AND JEWELRY INDUSTRY
CONNECTED WITH "ALROSA"
24-01-2008 14:00:00 | Armenia | Economy
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.