Turkey considering to set up a Diamond Exchange

"...According to a report by Turkish Daily News (TDN,) Atasay Kamer, chairman of jewelry exporter Atasay, said that the Istanbul Chamber of Jewellers and jewelry exporters were working on establishing the exchange on the premise that Turkey’s geographical status could allow it to become a diamond trading hub in the region. He added that plans for the exchange would become clearer over the next six months. Diamond imports into Turkey reached $700 million in 2006 and are expected to rise to $1 billion in 2007, the newspaper reported citing industry officials. Local jewelers are also lobbying government to abolish a 20 percent tax currently imposed on diamond imports, as part of their efforts to make the exchange feasible..."

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Courtesy - diamonds.net