Saturday, November 22 2014

 In 2014 Armenia reduced imports of rough diamonds mostly due to the decline in supplies to Russia, Armen Yeganyan, Head of the Industrial Policy Department of the Armenian Economy Ministry, has told ArmInfo.    

He said that in Jan-Oct 2014 the Armenian lapidary companies purchased 38 thsd ct of rough diamonds from Russia. Throughout 2013, a total of 96 thsd ct of rough diamonds were purchased. Part of the diamonds was bought from the Russian Depository of Precious Stones, but the major part was bought from Alrosa, he added.    
Yeganyan pointed out that in accordance with the intergovernmental agreement, in June 2014 Russia canceled the 6.5% customs duty on the rough diamonds exported to Armenia. The supplies started in June.  Actually, the 38 thsd ct of Russian diamonds were exported to Armenia over the past three months. This explains the decline in imports, Yeganyan said.     

It should be pointed out that all the diamonds exported from Russia are completely being cut in Armenia.  Last year the Russian diamonds were almost completely re-exported to the third countries. Re-export made up quite a big share in the total amount of export, he said. Under the specified agreement, in June 2014 Russia not only cancelled the customs duty, but also banned the re-export to the third countries, he said. 

According to him, in Jan-Oct 2014 Armenia imported a total of 107 thsd ct from Russia, Namibia, Guinea, Canada, Belgium, Sweden and other countries 175 thsd ct throughout 2013. 

Yeganyan added that in 2015 the import of Russian diamonds will be fostered. However, he refrained from giving specific forecasts.