Russia's Guild of Jewelers advocates liberalization in the circulation of precious metals and precious stones

The council of the association "Jewellers’ Guild of Russia" at its last meeting decided to appeal to all participants of the jewelry market with a proposal to join the measures to save the industry.
According to the participants of the meeting, the industry is entering a period of turbulence, which will be accompanied by market instability, an increase in the cost of raw materials, equipment, tools, consumables for jewelry production, a drop in the purchasing power of the population and a decrease in consumer interest in jewelry products.
According to experts, for the maximum possible leveling of negative factors, a cardinal liberalization of the turnover of precious metals and precious stones is required, with the release of participants from fulfilling unnecessary mandatory requirements and excessive non-production costs.
Among the measures proposed by the guild is the abolition of import duties on all types of colored and synthetic stones and 0.2-carat diamonds, as well as on production equipment for the jewelry industry. This measure is necessary to increase the competitiveness of domestic producers, the guild says.

Alex Shishlo for Rough&Polished