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Armenian jewelers can benefit from annulment of 6.5% export duty after
joining Customs Union - Minister
November 17, 2013 | 22:27
YEREVAN. -Armenia's diamond cutting industry can benefit from the
abolition of export duties on Russian rough diamonds after accession
to the Customs Union, Economy Minister Vahram Avanesyan said.
Vahram Avanesyan told Armenian News-NEWS.am that ALROSA corporation,
Russia's state-owned diamond company, that was previously centrally
selling diamonds to Armenian enterprises, has changed the policy.
`There is no reason to believe that quotas on sales will resume after
Armenia's accession to the Customs Union. But our companies can
benefit from the abolition of Russian export duties,' he said.
The duty on diamond exports from Russia makes 6.5 percent. The Russian
producers also point at desirability of abolishing duties, but only
for the local diamond cutters in order to sell raw materials.
In particular, Russia's largest diamond manufacturing company
`Crystal' noted that it is more beneficial to send diamonds for
cutting in Ukraine, Belarus and Armenia, but the duties on exports
neutralize this benefit.
News from Armenia - NEWS.am
From: Baghdasarian
joining Customs Union - Minister
November 17, 2013 | 22:27
YEREVAN. -Armenia's diamond cutting industry can benefit from the
abolition of export duties on Russian rough diamonds after accession
to the Customs Union, Economy Minister Vahram Avanesyan said.
Vahram Avanesyan told Armenian News-NEWS.am that ALROSA corporation,
Russia's state-owned diamond company, that was previously centrally
selling diamonds to Armenian enterprises, has changed the policy.
`There is no reason to believe that quotas on sales will resume after
Armenia's accession to the Customs Union. But our companies can
benefit from the abolition of Russian export duties,' he said.
The duty on diamond exports from Russia makes 6.5 percent. The Russian
producers also point at desirability of abolishing duties, but only
for the local diamond cutters in order to sell raw materials.
In particular, Russia's largest diamond manufacturing company
`Crystal' noted that it is more beneficial to send diamonds for
cutting in Ukraine, Belarus and Armenia, but the duties on exports
neutralize this benefit.
News from Armenia - NEWS.am
From: Baghdasarian