The Ministry of Economy of the Republic of Armenia is the authorized body in the sphere of implementation of the policy in the precious metals and gemstones sector. The Division of Precious Metals and Stones coordinates the problems of the diamond and jewelry sectors of the economy, defines goals, objectives and priorities for the development of the jewelry industry in order to meet the needs of the domestic market, increase exports of jewelry products and create jobs. It develops and implements policies aimed at the development of the industry. In matters of cooperation with third countries and within the EAEU, it develops the legal framework, agreements and contracts, participating in the work on tariff and non-tariff regulation. Develops measures to create a favorable investment climate.