EGL Asia signs MoU with Australian Gemological Laboratory

EGL Asia and the Australian Gemological Laboratory (AGL) of Melbourne, Australia signed a Memorandum of Understanding that will allow the Australian lab to represent EGL Asia in Australia and to issue diamond grading reports on its behalf.

Neeraj Sood, owner and manager of AGL said the cooperation between the labs signified the increasing pace of business that is done between the Australia and Asia. “Contrary to developments in the rest of the world, the Australian economy has felt little of the global economic crisis and consumer spending, also in the luxury product market, has continued to rise," Sood noted.

EGL Asia principal Joseph Kuzi said his organization was pleased to begin serving the Australian market. “While Australia is a relatively small market, it has great potential for growth,” said Kuzi.

EGL Asia's agreement with the Melbourne-based lab follows similar agreements signed over the past six months with labs in Asia, in particular in China, with the NGGC (the National Centre of Quality Supervision & Inspection on Gold-Silver Products), Shanghai's leading, state-owned diamond grading laboratory and with Sigma International Gemology (SIG) of Singapore.