In March 2024, a jewelry market for the EAEU countries will begin to function, Izvestia writes with reference to the RF Ministry of Finance. The project is being implemented by the financial departments of Russia and Belarus together with the Fund for Digital Initiatives of the Eurasian Development Bank (EDB FCI).
Work on such an online platform has been carried out since January, the platform is designed to help entrepreneurs from Russia and EAEU countries to sell their products without serious administrative costs, says the Ministry of Finance.
Manufacturers will be able to sell products at no additional cost at first, and buyers will be able to find the necessary product and buy it without going to the store’s website.
According to Yulia Goncharenko, Director of the Department of State Regulation of the Industry of Precious Stones and Metals of the Ministry of Finance of the Russian Federation, at the first stage it is necessary to build optimal logistics so that the goods are delivered as quickly as possible.
First, companies from Russia and Belarus will trade on the markets, specified the FCI EDB. When the platform is fully launched, other EAEU countries will also be able to connect to it. The number of participants in this case can be expanded. The United Arab Emirates, China, Thailand and Vietnam are of interest.
“Today, Russia accounts for about 30% of the world’s diamond production, and in terms of gold production, our country ranks second or third. However, the total share of jewelery from the EAEU countries in the world market is less than 1%,” says Goncharova.
According to her, the launch of the market will help to increase the recognition of the products of Russian manufacturers in the world.
As a recent study showed, Russians are actively investing in jewelry and precious metals. 15% of respondents buy jewelry, 23% of respondents invest in precious metals.
Author:
Natalia Gormaleva
Source: RB
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