The bill on abolition of the law “On the State control and precious metal sand gemstones assaying” was approved by the Parliament of Georgia on November 25. As it has been published by RIA Novosti, the sphere of precious metals and gemstones in the country will become self-regulated.

The department of the Ministry of Finance of Georgia that was aimed at the control in the sector of precious metals and gemstones will be abolished as well. Now private laboratories will assay and stamp jewellery in Georgia. Assaying itself will cease to be obligatory in the country. The institute of licenses for the right to produce jewellery will be cancelled too.

The Government of Georgia expects that such liberalization will promote the sector’s further growth and development.