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Belarus invites Russia’s Magadan Oblast to set up jewelry joint venture  


Belarus invites Russia’s Magadan Oblast to set up a joint venture in the jewelry industry, Belarusian President Aleksandr Lukashenko said at a meeting with Governor of Russia’s Magadan Oblast Sergey Nosov in Minsk on 20 May, BelTA has learned.   

"Belarus has a clear legislative framework governing assay supervision and jewelry circulation. We have inherited the Gomel-based Kristall jewelry plant from the Soviet Union. The company has many years of experience in working with precious metals and stones. It manufactures a wide range of products, including jewelry, using Belarusian-cut diamonds ," the head of state said.  

He proposed to work out options for setting up a joint production using Magadan raw materials at this factory.

Sergey Nosov said that during his visit to Belarus he intends to visit the Kristall plant. He said that Magadan Oblast has companies covering the full production cycle: from geological exploration, gold mining to jewelry manufacturing. The region produces rough diamonds that are used in the manufacture of jewelry. "Cooperation can be interesting, including for our manufacturers," the head of the region explained.