YEREVAN, DECEMBER 19, ARMENPRESS: The government of Armenia approved Thursday a plan of actions, which it said will give a strong boost to development and expansion of diamond cutting business. Trade and economic development minister Karen Chshmaritian said the plan of measures was prompted by the unprecedented growth rates reported in this sector over the last six years. The number of diamond polishing companies has increased ten times and its output has reached $223 million from $23 million. Overall diamond cutting companies employ 4,000 people. “In this sphere Armenia holds the ninth place in the world market in terms of production volume and the fifth place in terms of productivity,” Chshmaritian told reporters. Under the plan of measures, the volume of polished diamonds exports in 2006 are expected to double making $500,000.
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