Vladivostok to be Developed as Diamond Center

Moscow: The free port of Vladivostok will develop as a diamond center, Sergey Ivanov, President of ALROSA told TASS following a working meeting with the leadership of the Republic of Sakha (Yakutia) in its capital, the City of Yakutsk.

“Just last week, Yury Trutnev held a meeting to support the Russian diamond-cutting industry, and a number of decisions were made that will help the Russian diamond-cutting industry to overcome the crisis and compete with foreign companies. The issue of developing Vladivostok on the basis of a free port was discussed at the meeting, and Vladivostok will develop as a diamond center. We have good plans, and we think there are good prospects,” he said.

At the same time, Ivanov noted that one of the Indian companies was supposed to develop a diamond-cutting business in Vladivostok. “We will welcome the emergence of one more player,” Ivanov said.

Earlier, TASS reported that KGK, an Indian group of companies, intends to develop a diamond and jewelry cluster in Primorye.

With a view to develop the jewelry and diamond-cutting industry in Russia, on March 15 there was opened a “diamond” customs terminal in Vladivostok, the first in the Far East, which will control the movement of precious stones and metals together with controllers from Gokhran, which will permit to strengthen the supervision over legitimate operations, as well as to perform customs procedures and pass customs clearance in the shortest possible time.

The customs terminal is located on the premises of the temporary storage warehouse of the Eurasian Diamond Center. The first trading session on the floor of the Eurasian Diamond Center in Vladivostok took place in early September 2016. At that time, ALROSA sold more than $ 18 million worth of rough and polished goods.

The project of the Eurasian Diamond Center includes the creation of an infrastructure cluster on the territory of the Free Port of Vladivostok, which will bring together companies operating in the diamond industry, focusing on export and import operations with the countries of the Asia-Pacific region, primarily with China, India, Japan and South Korea.

The Center hosts diamond mining and diamond trading companies, diamond and jewelry manufacturers, gemological laboratories, banks, insurance companies, specialized carriers, customs brokers, as well as a specialized customs terminal and state controllers.