Management of ALROSA Company and De Beers Corporation started talks on the new trade agreement on export of Russian diamonds. The talks will last for 2 days, ALROSA PR department told to Prime-TASS.

Russian delegation is headed by ALROSA's President Vyacheslav Shtyrov, the delegation of South-African party is headed by executive director Gary Ralfe. Representatives of Finance Ministry of RF and Gokhran of Russia participate in the talks.

The current 3 year agreement signed in 1998 expires on December 31, a new agreement is to liberalise raw diamond trade and to increase diamond delivery to Russian cutting enterprises.

Under the current agreement ALROSA sells annually diamonds worth $ 550 mln but not more than 26% of the total De Beers turnover volume. In addition to this Russia was allowed to sell 5% of diamonds at open market and 20 of state order deliveries.

Under the new conditions caused by new strategy of De Beers Russian party is to make amendments in the agreement.

According to V.Shtyrov ALROSA who is the second biggest diamond producer in the world will form a new strategy aimed at development of diamond complex. According to him big producers who are the members of diamond market could regulate the market under the agreement similar to one of OPEC agreement. On the other hand, ALROSA and De Beers could have established one sale channel. But to perform this ALROSA is to become a part of De Beers delivery branch - Diamond Trading Company (DTC).