Russian government has approved the project of agreement with South Africa on cooperation in diamonds complexes development.

According to the Department of governmental information, this document regulates the following aspects of two countries cooperation: both countries are obliged to inform each other on their marketing strategies in world raw diamonds market and on their participation in different international gemstones organisations, assemblies and units; to avoid actions (negligence) which may cause world diamonds market instability; to render assistance in diamonds complexes specialists training, and to collaborate in the questions of new technologies application in geological exploration, diamonds mining and cutting, jewellery manufacturing etc.

There have been decided to create joint Russian and South African working group on collaboration in the field of geological exploration, diamonds mining, cutting and realisation, jewellery manufacturing and selling. Two co-chairmen from both countries are supposed to lead the group. Its meetings are going to be held in Russia and South Africa in turn once a year.

The ministry of finance of Russian Federation has been charged to sign the agreement for 5-years period with prolongation possibility.