Panama Exchange Signs Cooperation Deal With Mexican Jewelry BodyDecember 22, 14
PDE President Erez Akerman (left) with Miguel Cotero, President
The agreement was signed by Erez Akerman, PDE President, and Miguel Cotero, President of Cámara de Joyería y Platería de Jalisco.
Based in Guadalajara, Mexico's second largest city and the capital of the State of Jalisco, Cámara de Joyería y Platería de Jalisco serves a jewelry industry that is the driving force of the sector in the country, which is Latin America's second largest economy and its largest luxury-product marketplace.
According to the agreement, PDE will offer all members of Cámara de Joyería y Platería de Jalisco affiliate status, providing them automatic entry into the Panama Gem & Jewelry Center, and access to the PDE trading floor for the purpose of purchasing diamonds, gemstones and jewelry.
For its part Cámara de Joyería y Platería de Jalisco will liaise with the government authorities in Mexico, to encourage the removal of any cumbersome trade barriers that exist between Mexico and Panama, to enable the easy and efficient movement of diamond, gemstone and jewelry merchandise between the two countries.
It also was agreed that, during the coming year, PDE and Cámara de Joyería y Platería de Jalisco will collaborate in the organization of a Mexico Diamond Week, in which a delegation of jewelers from Mexico will visit Panama, tour the PDE facilities and meet with its members with the aim of developing business relationships. The delegation will be provided with a customized educational program about the diamond business both regionally and internationally. It is intended that the visit be the first in a series of such events.
"The establishment of a recognized diamond exchange in Latin America is an exciting development for the jewelry sector in Mexico," said Cotero. "Not only will it provide a substantial and ready supply of diamonds in a center that is easy to access and comfortable to operate in, but the fact that it will bring together traders from across the region and the world should provide us with new opportunities and markets for our own products."
"For PDE, this agreement epitomizes the very core of our mission, and that is to provide a structured trading environment that improves the prospects of the entire Latin American gemstone and jewelry sector," said Akerman. "Mexico is of critical importance, not only because of its size and value as a market, but also because of its leadership role."
PDE, Latin America's first and only officially recognized diamond bourse, is the anchor organization of the $200-million Panama Gem & Jewelry Center, which is the largest and most ambitious development project ever undertaken on behalf of the jewelry and gemstone trades in Latin America. Serving as a trading hub for both regional and international companies, the center will serve a market that today is worth $8 billion.