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.
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