ICA Planning Chinese Colored Stone Bourse

The International Colored Gemstone Association is planning to establish a colored stone bourse in Shanghai or Beijing as well as an ICA trademark for colored gemstones as it looks to make a major entrance into the massive Chinese market.

Talks on setting up an ICA trading platform in China are in an advanced stage and details of the plan will be revealed at the February 18-21 International Colored Gemstone Congress to be held in Bangkok.

“Conference-weary gemstone dealers should not mistake the upcoming ICA congress for yet another industry gabfest,” said ICA President Joseph Menzie, who is running for re-election to a second term at this congress. “This congress promises to deal with a range of matters that have never been covered at previous ICA congresses, or for that matter at any other major industry event.”

The ICA sees the Chinese market as a major opportunity with the potential for enormous growth in colored gemstones, particularly since the Chinese have a rich and ancient colored gemstone tradition. Gemstones such as ruby and jade are part of that tradition, Menzie said.

“Of course, to make this work, i.e. for ICA members to sell gemstone products in China, we will need a platform to work from,” Menzie continued. “An ICA duty/tax-free, state-approved ICA gemstone bourse can, and will be crated either in Shanghai or in Beijing. We will also build an ICA brand that will function as a full-fledged quality and trade mark for the colored gemstones sold under it.”

Menzie believes the ICA has the opportunity to play a central role in the growth of the Chinese colored gemstone market while giving its members new opportunities for sales.