The Eurasian Jewelry Export Bureau was registered on the platform of AIFC with the support of the Office of Interaction with the Countries of the Eurasian Economic Union

On July 1, 2021, the opening ceremony of the Eurasian Jewellery Export Bureau was held within the framework of J-1 Kazakhstan International Jewelry Exhibition-Congress.

The AIFC Green Finance Centre has worked actively with the Eurasian Economic Commission to coordinate documents related to the establishment and registration of the Jewelry Bureau in the AIFC.

The new organization aims to position the Union’s jewelry industry on the global market by promoting jewelry products of EAEU member states and enhancing the efficiency of exports to third countries’ markets. Also, among the tasks are personnel training, information and consulting support for jewelry manufacturers and sellers and search for investors.

During the ceremony, Mukhtar Bubeyev, Chief Executive Officer of the Astana Financial Services Authority, presented the certificate of registration of the Bureau in AIFC to Kaisar Zhumagaliev, Chairman of the Jewelers’ League of Kazakhstan.

Yernur Rysmagambetov, Chairman of the AIFC Authority, while greeting the participants of the Bureau, noted that the attractive conditions created in AIFC are supported by the business communities of the EAEU member states and highlighted the important role of jewelry business in the development of the creative economy.

“It took a year and a half to coordinate all the key tasks of the Bureau, link them with the goals set by the countries of the jewelry industry and coordinate the draft concept. This is the first significant step in finding a consensus between the participants of the jewelry industry and the states of all parties,” said Director of the Industrial Policy Department of EEC Kushnarev Nikolay, expressing gratitude on behalf of Artak Kamalyan, Member of the Board (Minister) for Industry and Agro-industry of EEC, for the joint work and also noted the invaluable support from AIFC Green Finance Centry in establishing the Bureau.

Nowadays the share of EAEU countries in the world jewelry and diamond market is less than 1%. Vice-Minister of Trade and Integration of the Republic of Kazakhstan Kairat Torebayev emphasized that joint work will lead to better results. “When we enter the market individually, marketing, building logistics chains and distribution chains are a big component. All of that has the potential to be overcome by working together. When we are together, each country will be able to supply the world market with many more exports of goods,” the vice minister pointed out.

According to the speakers’ opinion, the Bureau has a significant capacity, its functioning will lead to an enhancement of the competence of the Eurasian jewelry industry, expanding opportunities for manufacturers and satisfying consumer demand. “There is a great potential. We have a lot to strive for. The Bureau is a platform to exchange experiences, to cooperate and to determine the role of each country. And I encourage all those who have joined to ensure that there is maximum cooperation,” commented Marat Karabayev, Chairman of the Committee of Industrial Development and Industrial Safety of the Ministry of Industry and Infrastructure Development of the Republic of Kazakhstan.

For note: the previously signed Agreement on Peculiarities of Operations with Precious Metals and Precious Stones within the Eurasian Economic Union has recently entered into force. Eurasian Jewellery Export Bureau was officially registered on June 30, 2021.

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The Astana International Financial Centre (AIFC) was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Management council of the AIFC during the council’s meeting on July 2, 2020, approved the Centre’s development strategy until 2025. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe.

The mission of the AIFC is in assisting the sustainable and long-term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.” The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.” For more information about the AIFC, follow the link www.aifc.kz.

The AIFC Green Finance Centre is an AIFC Organisation created to enable the development of green finance in Kazakhstan and Central Asia. The main goal is to bring investments to sustainable economy through trending financial instruments, such as green and social bonds. In addition to that, the AIFC Green Finance Centre, being a regional think-tank, provides strategic and business consulting in green finance and sustainable development to Governments, quasi-state organisations and entrepreneurs. The Centre provides initial assistance to potential issuers, investors and market players on preparations for the issuance of green bonds on the AIFC Exchange (Astana International Exchange).