ARMENIA MAY ESTABLISH DIAMOND EXCHANGE AT ZVARTNOTS AIRPORT
July 15 2009
The Armenian government has voiced its intention to establish a
diamond and jewellery exchange to serve its local market, due to the
substantial growth of this sector over the past decade both locally
and internationally.
The necessity of creating a diamond exchange in the country was
first raised in 2003 by representatives of the jewellery sector,
who felt that the lack of a viable bourse impeded the activities of
jewellery companies.
The World Federation of Diamond Bourses says it welcomes the initiative
and looks forward to opening communication channels with the Armenian
authorities. The country has also been invited to participate in the
2009 Presidents’ Meeting that will take place November 15 in Antwerp.
Gagik Kocharyan, head of the trade and market efficiency department
of the Armenian Ministry of Economy, says the creation of a diamond
and jewellery exchange in the Armenian capital Yerevan would give
the country an opportunity to play a more serious role in the
region. Initially, it is envisioned that the exchange will operate
within a free trade zone at Zvartnots airport.