MOSCOW, May 15 (RAPSI) - The Board of the Eurasian Economic Commission (EEC) has released exporters from responsibility to put natural diamonds up for sale in the Customs Union before exporting them to other countries, according to a statement from the commission.
Currently, producers must first offer their stones for sale on the domestic market within the Customs Union by posting their offer on the EEC website. If there are no responses within 10 business days, the exporters are allowed to sell the batch abroad.
“The measure will lift excessive administrative barriers in the export of natural diamonds, reduce the terms of contractual obligations and ensure equal competition with foreign producers,” Andrei Slepnev, the EEC trade minister, said in the statement.
In 2013, diamond exports from Russia increased by 18.6% and reached 35.36 million carats worth $4.37 billion. Diamond production has grown by 8.5% and reached 37.88 million carats.