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EAEU creates conditions for common jewelry market

The Board of the Eurasian Economic Commission (EEC) approved requirements for testing, analysis and branding of jewelry and adopted a list of violations in the production of jewelry moved within the Eurasian Economic Union (EAEU). Press service of the EEC reports.

The Commission creates the necessary conditions for mutual recognition of assay marks in the mutual jewelry trade on the domestic market of the Eurasian integration association.

The EEC has approved a list of violations of the requirements for the production of jewelry and other products moved from one member state to another, aimed at protecting bona fide business entities. The document will make it possible to determine the minimum necessary conditions for appropriate verification activities in relation to those jewelry and other items that will be moved with violations.

«The adopted documents will make it possible to create favorable conditions in mutual jewelry trade, which is an important component for business, and it will become safer for consumers to purchase products. This is a step towards the best world practices in this area, including those indicated in the agreement on the specifics of carrying out operations with precious metals and precious stones within the EAEU dated November 22, 2019,» Gegham Vardanyan, Minister in charge of Internal Markets, Informatization, Information and Communication Technologies of the Commission, said.

Russia, Belarus and Armenia have already ratified the agreement on the specifics of operations with precious metals and precious stones within the Eurasian Economic Union dated November 22, 2019.