On February 2, the
Eurasian Economic Commission’s Board adopted a number of documents that will
enable creating a common jewelry market across the Eurasian Economic Union
space.
A review visit schedule in the Union was approved and
the review group members that will perform such activities were approved.
"The
accepted documents determine the list of those national assay inspections
(laboratories), which work should be made aware to the public authorities of
the Eurasian Economic Union countries," said Gegham Vardanyan, EEC
Minister in charge of Internal Markets, Information and ICT. "It is
required to ensure mutual recognition of assay marks in the Union’s internal
market”.
The practice of
review visits is common in the field of jewelry circulation, since this market
has a difficult regulation.
As noted by the EEC Minister Gegham Vardanyan, such a
mechanism for familiarizing with the work of national assay inspections
provided for in the Agreement on peculiarities of operations with precious
metals and stones within the Eurasian Economic Union will create a favorable
atmosphere of trust between the Union countries’ regulators.
For reference
The
Agreement on peculiarities of operations with precious metals and stones within
the Eurasian Economic Union dated November 22, 2019 has been already ratified
by the Republic of Armenia, the Republic of Belarus, the Kyrgyz Republic and
the Russian Federation.