Armenian jewelers are exempt from export duty

Armenian jewelers will not have to pay export duty when purchasing natural diamonds from Russia, the Government press service reports.

Pursuant to a cooperation agreement signed between the Armenian and the Russian governments in December 2013, according to which the natural rough diamonds Armenia purchases from Russia without the export duty cannot be re-exported, the Armenian government today specified the procedure for registration and recognized the Ministry of Economy as an authorized agency to implement the procedure.

Thus, Armenian companies are exempt from the export duty 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 the gemstone sector in Armenia.