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Gold to fall in price in Azerbaijan by 50%

31.05.2020,11:38


May 31, Fineko/abc.az. Great innovations are expected in the jewelry sector.

ABC.AZ reports that the above-said statement was made by Eduard Shamaryayev, the representative of the Association of Jewelers of Azerbaijan.

According to Shamaryayev, in particular, a significant reduction in customs duties on imported gold is expected: "This gives reason to talk about a significant reduction in the price of gold in Azerbaijan. Currently, the state customs duty for the import of jewelry from abroad is 49%. As part of the reforms, it is proposed to reduce it by 1%. This also suggests that imported gold will fall in price by about 50%. The Assay Chamber has been liquidated in Azerbaijan, and assay houses in our country will be opened in its place based on the experience of Turkey. People will be able to easily test their gold products in assay houses and sell them."