IDEX Online, Israel
Aug 11 2004

Armenia’s Diamond Polishing Drops in Value

(August 11, ’04, 5:23 Edahn Golan)

Armenia’s diamond polishing efforts fell 17 percent during the first
half of the year to 63.1 billion dram ($113.7 million) while
increasing in weight.

Karen Chshmaritian, Armenia’s Trade and Economic Development
Minister, says the increase in carat output is due to stronger global
demand for smaller gems.

Armenia has imported 70,000 carats of rough diamonds from Russia
under a government-to-government agreement during the first six
months of the year

Armenia is interested in importing up to 400,000 carats of rough
diamonds this year under the agreement with Russia.