Panama Exchange, Fiera di Vicenza to Promote Gemstones and JewelryDecember 08, 14
Eli Izhakoff and Matteo Marzotto (seated center) signing the
The sides signed a Memorandum of Understanding (MoU) detailing the future cooperation on the trading floor of the PDE's soon-to-be-inaugurated headquarters by PDE Founding Chairman Eli Izhakoff and Fiera di Vicenza President Matteo Marzotto.
According to the MoU, PDE and Fiera di Vicenza will formulate a strategic plan and conduct a feasibility study for projects that include trade fairs, symposiums and industry forums, which will take place in Panama and promote the diamond, gemstone and jewelry business in a region that includes Mexico, Central America, South America and the Caribbean islands starting in 2015.
The signing ceremony was the first official event to be held in the Phase I building of the PDE, which will open for business at the end of December. Marzotto was accompanied by Corrado Facco, Managing Director of Fiera di Vicenza, and leading representatives of the Italian jewelry sector, including Gaetano Cavalieri, President of CIBJO, the World Jewellery Confederation, and Roberto Coin, one of the world's most prominent jewelry designers and manufacturers. Both Cavalieri and Coin are PDE directors.
"The significance of this agreement, being signed in this new facility, cannot be understated," Izhakoff said. "The involvement in PDE's mission of Fiera di Vicenza, which represents Italian luxury at its finest, emphasizes that we are not just building offices, but rather an industry. Our goal, through the development of the Latin American gemstone and jewelry trade, is to grow the pie for everyone. As a key industry service provider, Fiera di Vicenza's contribution can be invaluable."
Marzotto said: "While we always will be rooted in Italy, Fiera di Vicenza is going international, working with key regional partners, like PDE, to grow and enrich the jewelry business around the world. We, too, are not just selling physical space at trade shows, but rather providing the business with relevant and quality content, so that the buyer and the exhibitor's experiences are enriched, focused and made more efficient and value adding."
Prior to the signing of the Memorandum of Understanding, the PDE leadership and the Italian visitors were hosted by Panama's Minister of the Presidency, Álvaro Alemán, at the Presidential Palace.
Alemán emphasized the government's strong support for the PDE, and its program to establish Panama both as the primary gemstone and jewelry trading center in Latin America, and the region's gateway to the world markets.
Izhakoff said that the involvement in Panama of organizations such as Fiera di Vicenza will contribute to the growth of a responsible and ethical gemstone and jewelry trade in Latin America.
Over the coming weeks, companies will be taking up residence in the Phase I building of the Panama Gem & Jewellery Center, which includes 61 offices, vaults and secure transportation facilities, as well as the Panama Diamond Exchange, including its administrative offices and 300 square-meter trading floor.
Construction of the Phase II building will begin in 2015, with a finish date scheduled for 2017. It includes an office tower, where the offices and trading floor of the Panama Diamond Exchange will be located, along with a luxury commercial center, banks, specialized support services, restaurants and shops, including high-end retail jewelry stores.