Armenia: Let’s provide access thanks to Turkey

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SAFAKNA TURKEY – Noting that his country’s exports increased by 77 percent last year, Minister Kerobyan said that a significant part of it is re-exported products.

Noting notable achievements, especially in the field of diamond cutting, Kerobyan said, “While our total exports of cut diamonds were $75 million in 2020 and approximately $175 million in 2021, exports exceeded $400 million in 2022.” said.

Emphasizing that they expect further increases in diamond processing exports, Kerobyan said: “Last year, several of the world’s leading diamond companies began projects to set up diamond processing plants in Armenia, which are now close to completion.” used the phrase.

Kerobyan stated that they hope that the said factories will open in the first quarter of the year, and also noted that in 2022, jewelry exports exceeded $100 million for the first time.

– OPENING THE BORDER WITH TURKEY WILL DEVELOP THE ECONOMY

Kerobyan also commented on the direct air cargo trade between Turkey and Armenia.

Referring to the fact that regular air cargo transportation between the two countries has not yet begun, Kerobyan said that if trade does start, the volumes will be small.

Kerobyan said that at the moment, trade is mainly carried out by land through Georgia, and it will be difficult to replace it by air.

Noting that the opening of the border with Turkey will create a great improvement in the economy, Kerobyan said that with the opening of the border, access to the markets of Turkey and the Middle East will be provided.

– EXPORT OF PROCESSED DIAMONDS IN 2022 757 THOUSAND CARATS

Processed diamonds in Armenia are known as one of the largest export items.

According to the Armenian Customs Service, the export of polished diamonds in 2022 increased by 87 percent to 757,000 carats.

83% of processed diamond products are exported to the UAE and 15.7% to Russia. Hong Kong, Belgium, USA, Belarus, Georgia, Israel, Germany, China and Thailand are among the countries with low export volumes.

While Armenia imports 52 percent of its diamonds from India, 21 percent from Russia and 13.6 percent from Hong Kong; The UAE also purchases small quantities of diamonds from Belarus, Belgium, South Africa, Israel, Thailand, the Czech Republic, Germany and Canada.

KGK Group, India’s largest diamond company, is expected to open a diamond processing plant in Armenia and the company is exporting $300 million worth of products this year.

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