Turkey could become one of the world’s main jewelry trading centers in the mid-term future, according to the vice president of the Federation of World Diamond Bourses, Alex Popov.
However, the businessman advised Turkey’s “introverted” jewelry industry to work more on promoting itself overseas.
Speaking to The Anadolu Agency on the sidelines of the Istanbul Jewelry Show on Friday, Popov -- who is also the president of Moscow Diamond Bourse -- said Turkey is one of the top jewelry markets along with other major players like China, Italy and India.
Turkey established a diamond and precious-stones market under its main stock market, Borsa Istanbul, in April this year to maneuver itself into becoming a regional trading hub in the sector.
Praising the initiative as an important step, Popov said the Turkish jewelry sector is very important since it has become one of the key global players over the last two decades.
The Turkish government also introduced new legislation in August lifting a Special Consumption Tax on jewelry products, another "very good “development, according to Popov.
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