ARMENIA WORKING TO HARMONIZE ITS LEGISLATION FOR MUTUAL RECOGNITION OF GOLD ITEMS HALLMARKS WITH IRAN AND RUSSIA

ARKA
Apr 6, 2010

YEREVAN, April 6, /ARKA/. Gagik Kocharian, head of a ministry of
economy department in charge of trade and market efficiency, said
the ministry is working to harmonize national legislation for mutual
recognition of gold items hallmarks with Iran and Russia.

He said apart from revising the national legislation some other
measures will have to be implemented that will allow to certify
Armenia-produced jewelry in line with international standards. He
said reciprocal recognition of hallmarks is expected to facilitate
the process of export of Armenian jewelry and goldsmith produces.

‘The process has begun but having in mind the risks of this sector,
it may protract,’ he said.

According to the National Statistical Service of Armenia, production
of jewelry and goldsmith items last year slashed by 16.1 percent
from 2008 to 733.8 kg. According to the ministry of economy, export
of jewelry and gold items in 2009 shrank to $10.7 million from $22.6
million in 2008.