NO DECLINE IN ARMENIAN DIAMOND-CUTTING INDUSTRY IN ARMENIA EXPECTED

news.am
Dec 1 2009
Armenia

No decline in the Armenian diamond-cutting industry is expected this
year, RA Minister of Economy Nerses Yeritsyan told reporters today. He
pointed out that the industry’s indicators will be specified at the
end of this year. The Minister said that the development of Armenia’s
diamond-cutting industry requires management reforms, diversification
of raw materials sources, and introduction of modern technologies in
diamond-cutting plants.

Minister Yeritsyan said that 2-3 per cent of cut diamonds produced
in Armenia were used by the local jewelry industry for manufacturing
end products. The rest were exported as raw materials. Jewelry and
watch-making are diamond-using industries, and they must be developed
for larger value-added taxes to be collected, Yeritsyan said. He
pointed out that jeweller’s art in Armenia has centuries-old traditions
and can occupy a serious niche in the market. Shahe Aslanyan, co-owner
of the Lori diamond-cutting company, said that Armenian diamonds sell
well on the international market.

Today, RA President Serzg Sargsyan visited the Lori diamond-cutting
company to get acquainted with the problems of one of the most
important industries in Armenia and discuss the ways of resolving
them. The President was accompanied by RA Minister of Economy Nerses
Yeritsyan, Kotayk Governor Kovalenko Shahgeldyan, the co-owners of
the Lori company Shahe Aslanyan and Vardkes Knajyan.

From: Emil Lazarian | Ararat NewsPress