Suspension of FTA not because of misuse of the scheme from Thailand says Atul Jogani, Vice-Chairman, TGJTA

The bloated figures are exaggerated and hampering Thailand's image, he adds.

Post By : IJ News Service On 02 March 2013 3:01 PM
The World Federation of Diamond Bourses released a statement, officially welcoming the Armenian government to establish a diamond and jewellery exchange in Armenia. WFDB president Avi Paz commented on the initiative saying, "During the past decade, Armenia's role in the international diamond industry and trade has progressed at an impressive rate. Diamond manufacturing and trading have reached a critical volume and a logical step would be to establish a diamond bourse to facilitate diamond trading and thus become part of the global family of diamond exchanges that are affiliated to the WFDB. We are looking forward to opening a channel of communications with our Armenian counterparts and begin liaising. Of course, we will be inviting an Armenian delegation to participate in the 2009 Presidents' Meeting that will take place November 15 in Antwerp." %% The WFDB statement followed an announcement made by Gagik Kocharyan, head of the trade and market efficiency department of the Armenian Ministry of Economy, last weak, in which he said that, “creation of a diamond and jewellery exchange in the Armenian capital Yerevan would give the country an opportunity to play a serious role in the region, to attract world market participants to Armenia and to increase jewellery sales in the country. Initially, the planned exchange is to operate within a free trade zone to be established at Zvartnots airport.”. %% Reports suggest that, the necessity of creating a diamond exchange in Armenia was first raised in 2003 by representatives of the jewellery sector, as the industry felt that a lack of an exchange, hampered activities of jewelry companies. %% WFDB Secretary-General Michael Vaughan said, "The WFDB Secretary General office, in its continuing dialogue with governments and other trade organisations, looks forward to offering guidance in establishing a diamond exchange and to provide comprehensive information as to what is needed to apply for WFDB membership."

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