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USA, ARMENIA DIAMOND TRADING -10% IN 2006
By Jeff Miller
Diamonds.net, NY
http://www.diamonds.net/news/NewsItem.aspx?Arti cleID=18049
June 18 2007
RAPAPORT... The United States has made a concerted effort to help
Armenia during transition from totalitarianism and a command economy
into democracy and open markets. Under government sponsored programs
the United States has provided nearly $1.5 billion in humanitarian
and technical assistance for Armenia in the past 15 years.
In 1992 Armenia signed three agreements with the United States
affecting trade between the two countries. The United States considers
that diamond trading between the two nations is an important player
in commerce. The agreements were ratified by Armenia's Parliament in
September 1995 and entered into force in the beginning of 1996. They
include an "Agreement on Trade Relations," an "Investment Incentive
Agreement," and a treaty on the "Reciprocal Encouragement and
Protection of Investment."
Armenia's diamond trade overall however has hit a rough patch in the
past two years. Armenia reported a 35 percent decline in rough imports
from all nations for the first couple of months in 2007, following
an overall diamond export drop of 20 percent in 2006 to $212 million.
Interestingly enough, diamond imports and exports between Armenia and
the United States experienced a transition in 2006. Overall diamond
trade fell 9.8 percent to $9.9 million. Armenia exported $1.7 million
in polished goods to the United States, a drop of 78 percent from
2005. And yet polished exports from the states to Armenia in 2006 rose
196 percent to $8 million. Rough imports from the states dropped 76
percent to $170,000. A slight majority of goods traded were in excess
of 0.50 carats.
So far in 2007 (January through April) polished imports from Armenia
to the United States is flat at about $421,000. Polished exports to
Armenia from the states has dropped 59 percent to about $273,000.
By Jeff Miller
Diamonds.net, NY
http://www.diamonds.net/news/NewsItem.aspx?Arti cleID=18049
June 18 2007
RAPAPORT... The United States has made a concerted effort to help
Armenia during transition from totalitarianism and a command economy
into democracy and open markets. Under government sponsored programs
the United States has provided nearly $1.5 billion in humanitarian
and technical assistance for Armenia in the past 15 years.
In 1992 Armenia signed three agreements with the United States
affecting trade between the two countries. The United States considers
that diamond trading between the two nations is an important player
in commerce. The agreements were ratified by Armenia's Parliament in
September 1995 and entered into force in the beginning of 1996. They
include an "Agreement on Trade Relations," an "Investment Incentive
Agreement," and a treaty on the "Reciprocal Encouragement and
Protection of Investment."
Armenia's diamond trade overall however has hit a rough patch in the
past two years. Armenia reported a 35 percent decline in rough imports
from all nations for the first couple of months in 2007, following
an overall diamond export drop of 20 percent in 2006 to $212 million.
Interestingly enough, diamond imports and exports between Armenia and
the United States experienced a transition in 2006. Overall diamond
trade fell 9.8 percent to $9.9 million. Armenia exported $1.7 million
in polished goods to the United States, a drop of 78 percent from
2005. And yet polished exports from the states to Armenia in 2006 rose
196 percent to $8 million. Rough imports from the states dropped 76
percent to $170,000. A slight majority of goods traded were in excess
of 0.50 carats.
So far in 2007 (January through April) polished imports from Armenia
to the United States is flat at about $421,000. Polished exports to
Armenia from the states has dropped 59 percent to about $273,000.