YEREVAN. – The Armenian jewelers will not have to pay the export duty when purchasing natural diamonds from Russia.

Pursuant to the cooperation agreement which the Armenian and the Russian governments signed on December 2, 2013—and according to which the natural, rough diamonds, which Armenian companies purchase from Russia and without the export duty, shall not be re-exported—the Government of Armenia specified, at Wednesday’s cabinet meeting, the procedure for its registration, the Government press service informed. 

In addition, the government recognized the Ministry of Economy as the authorized agency to carry out the aforesaid.    
In actual fact, Armenian companies will be exempt from Russia’s export duties provided that the diamonds they purchase in Russia are not re-exported from Armenia. 

The decision is expected to significantly contribute to the development of Armenian jewelry.