Prime Minister of Armenia: Decline in jewelry sector of Armenia result
of global economic crisis

2009-03-13 19:10:00

ArmInfo. Decline in jewelry sector of Armenia is a result of the global
economic crisis, Armenian Prime Minister Tigran Sargsyan told media
Friday.

He said the major consumer of jewelry production and especially
diamonds is the USA. If there are problems with sales in the US market,
problems with sales originate also in other markets. As regards the
proposal by the Russian company ALROSA to provide Armenia with a big
loan for purchase of Russian raw materials, the premier emphasized that
the problem is not the loan but the sales of finished products. In this
case Armenia may face a problem with repayment of the Russian loan, T.
Sargsyan said. He stressed that the issue is currently discussed with
local cutting enterprises. If they agree the project will be
implemented, the premier said.