Azerbaijan to create a new body to control jewelers

Wed 19 Feb 2020 20:28 GMT | 00:28 Local Time

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The establishment of a new body to control the market of jewelry, precious metals and stones has been suggested in Azerbaijan.

ABC.AZ reports that this proposal was announced during today’s meeting with entrepreneurs on the subject "Prospects for the development of the jewelry market in Azerbaijan: problems & opportunities” by Orhan Mammadov, the head of the Agency for the Development of Small & Medium-sized Businesses.

Agency’s head stressed that currently there are no conditions of trust between market participants and consumers in the jewelry sector. According to Mamamdov, there was also no control over the quality and sampling of precious metals and stones: "In this regard, there is a worldwide accepted experience. In accordance with this practice, it is necessary to create appropriate structures for creating pricing and market control. The creation of such a body will also create conditions for a competitive market environment and better consumer protection."

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