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Russia’s Federal Assay holds working meetings in Kostroma Region

16 august 2024

On August 8, as part of the jewelry festival-forum Golden Ring of Russia, the head of the Federal Assay Chamber (FAC) Yuri Zubarev met with the Governor of the Kostroma Region Sergei Sitnikov.

A round table named "Jewelry Industry in Modern Conditions" was held at the site of the Administration of the Kostroma Region, where Yuri Zubarev together with the head of the region and representatives of the industry discussed the challenges facing the jewelry industry of the region, including issues of regulating the market for precious stones and the possibility of exporting jewelry.

As Zubarev noted, the history of the jewelry industry in the Kostroma Region goes back several centuries, and it is the largest manufacturing region for jewelry in the country.

"Considering the volumes of jewelry coming to the Chamber, we decided to open another hallmarking site directly in Kostroma," he said. “The new site will expand the production capacity of the Upper Volga Interregional Office of the Federal Assay Chamber and will reduce the time for hallmarking jewelry."

The head of the FAC also emphasized that it is observing positive dynamics in the jewelry market and is in constant dialogue with the business community. Thus, at present, the department, together with the Ministry of Finance of Russia and industry representatives, is discussing and working on ways to reduce unnecessary administrative burdens.

On the same day, a meeting of the Board of the department was held in the Upper Volga Office of the Federal Assay Chamber with the participation of the heads of the central office and interregional offices of the FAC. At the event, they discussed issues of control and supervisory activities, including the problem of identifying counterfeit assay hallmarks, as well as assessing the effectiveness of the interregional offices of the FAC.

Yuri Zubarev summed up the results of the service's work for the first half of 2024. In particular, it was noted that over the course of six months, approximately 15.4 million of domestically produced gold items were marked and branded in the country, which is 7% higher than in the same period of last year.

Galina Semyonova for Rough&Polished