The Panama Diamond Exchange (Pana Diamond Exchange, PDE) has signed a cooperation agreement with the largest jewelry association of Mexico, the Chamber of Jewelery Traders (Cámara de Joyería y Platería). Under this agreement, PDE will help develop the jewelry industry in this Latin American country.
The Chamber of Jewelry Traders is located in the Mexican state of Jalisco and serves as an auxiliary organization for the jewelry industry in the country. Mexico has the second largest economy in Latin America and is the largest market for luxury goods in the region.
According to the provisions of the signed agreement, the PDE will provide all members of the Chamber of Jewelry Traders with the status of the participants of the organization, which automatically gives them the right to access the Panama Center for Precious Stones and Jewelry and Trade at the PDE site.
Also, the new agreement implies that next year in Mexico will be organized the Mexican Diamond Week, within which a delegation of jewelers from Mexico will be able to establish business relations with their counterparts in Panama.
"The organization of a well-known diamond exchange in Latin America is very important for the jewelry industry in Mexico," said Miguel Cotero, president of the Jewelery Traders Chamber. "Since the new trading floor in Panama will allow traders to trade in jewelry from Latin America and around the world, this will give us an opportunity to expand the sales markets for our products. "
"For PDE, the signing of this treaty represents the main task of the organization - creating an optimal trading environment that will benefit the entire jewelry industry in Latin America," said PDE President Erez Akerman. "Mexico is very important to us not only because of the large by the volume of sales of the jewelry market, but also because of its role as a leader in the region. "
The Panamanian Diamond Exchange (PDE) project, funded by the Panamanian Center for Precious Stones and Jewelry worth $ 200 million, is the largest and most ambitious initiative ever undertaken in the interests of jewelry trade in Latin America. The center will serve as a trading platform for local and international companies on the market, which is currently estimated at $ 8 billion.