Dubai and Thailand explore mutual trade opportunities for gems and colored stones

UAE. Dubai Multi Commodities Centre (DMCC) and the Thai Gem and Jewelry Traders Association (TGJTA) signed an agreement today, making TGJTA the first affiliate member of the Dubai Gems Club (DGC), a strategic initiative of the Colored Stones and Pearls Division at DMCC.

This agreement will boost trade opportunities between Dubai and Thailand, both fast-emerging markets for gems and colored stones. Thailand, a major global gem trading and processing centre, is the second largest exporter of gems and jewelry in the world with annual exports over US$2 billion. The country enjoys rich natural deposits of ruby and sapphire and is known as the heart of South East Asian gemstone production and trade.

Under the terms of the agreement, TGJTA members will access DGC’s network of local and international markets. In addition, as an affiliate member, TGJTA will also have access to the dedicated trading facilities of the Dubai Gems Club located at Almas Tower. DMCC serves as an international hub bridging gemstone producing and consuming countries, and facilitates the trade of colored stones through Dubai via the Dubai Gems Club.

Gaiti Rabbani, Executive Director-Colored Stones and Pearls Division, DMCC, said: “We strongly feel that the colored stones industry needs a unified and comprehensive marketing strategy that will drive demand across the emerging consumer markets. DMCC’s affiliation with TGJTA will offer Thailand’s colored stones community a dedicated platform to further boost their trade, and will in turn positively impact the entire value chain of the colored stones industry. In addition, our partnership with TGJTA will add value to Dubai’s AED 70 million [US$20 million] annual colored stones trade.”

“The affiliate membership status is new to DGC and we are pleased to work with a reputable association such as TGJTA in this Endeavour. We expect to see an equally strong response from other respected international gemstone organizations as a result of the various benefits derived from this membership status,” she added.

Vichai Assarasakorn, President, TGJTA, said: “The TGJTA has always sought to lead the way in the international community to promote Thailand’s colored stones trade. Our association with DMCC will pave the way for a dedicated market for over 200 of our members. We look forward to partnering with the Dubai Gems Club to further develop the jewelry and colored stones trade.”

TGJTA was established over three decades ago to serve Thailand’s gem and jewelry traders and manufacturers. It has concentrated on creating a cohesive organization dedicated to developing and expanding the industry for the benefit of all. TGJTA’s leadership and members have served to grow what was once a cottage industry in Thailand into one of the world’s leading gem and jewelry manufacturing and trading centers.

Source: BI-ME

Namibia: Erongo Small Miners Get EC Funding

The Erongo Region Small Scale Miners Association (ERSSMA) has received N$8,3 million from the European Commission (EC) to enable them to effectively mine tourmaline gemstones in the region.

The money was channeled through the National Planning Commission to the Erongo Regional Council, which also contributed 5 percent towards the N$8,3 million.

The Erongo Region's stakeholder’s forum, including some mines in the region and constituency councilors, mines ministry, Geological Survey of Namibia and the small miners themselves, approached the EC on behalf of the small miners and successfully secured the grant.

The small miners are currently mining the tourmaline stones without proper equipment using rudimentary equipment such as 'koevoets' and hammers for the past 13 years or more, while some of the equipment is even handmade.

Some of the self-employed miners, who come from other parts of the country, have been camping along the Karibib-Otjimbingwe gravel road and walk to the nearby mountains - as far as 20 km - every morning to mine the gemstones.

The gems are mined at privately owned farm Neue Schwaben.

"We are working under harsh conditions without water. We use water that gathers in the holes that we dig for our daily use," said August Tsowaseb, a miner at the site.

Tsowaseb said they need machinery, especially to clean up the area and move some of the earth they dig out.

"It is good business if you are lucky. Sometimes you can get up to N$6000," Tsowaseb added.

The Deputy Director for Planning at the Erongo Regional Council, Vikurupa Kavendjii, said the regional council will buy equipment such as jackhammers and compressors for the small miners, once everything is sorted.

Some equipment has been bought already, while a consultant is looking at the small miners' 'shopping list', Kavendjii said.

He also added that the stake holder’s forum looked at the basic needs, marketing and processing needs of the small miners.

"I think small mining is becoming a major player. We realize some stones are even more valuable than diamonds."

The small miners now also receive training in semi-precious stones, cutting and polishing as well as in business and marketing areas.

"Sometimes they find blue tourmaline stones and don't even know their value," added Kavendjii.

The council is also planning to expose the small miners to a highly specialized country in small-scale mining such as India, in future.

The stakeholders forum has also developed a website, in order to market the semi-precious gemstones.

Kavendjii said the council is planning to build a proper marketing centre 30 km outside Usakos on the Swakopmund road, where a number of small miners are already showcasing their products.

The small miners might be asked to form cooperatives in order to use some of the large equipment such as compressors in groups.

A small rental fee will be charged for the equipment.

Kavendjii said a fund will be set up from this money to maintain and service the equipment.

About 1600 small miners, in all the constituencies where small-scale mining is taking place in the region, will benefit from the equipment.

Madagascar trip

TRADE: Deputy Commerce Minister Wiroon Techapaiboon will lead a trade mission to Madagascar in mid-July, with the African nation's ban on exports of gems and precious rough stones high on the agenda.

Mr Wiroon said that the ban, which took effect in February, delivered a big blow to Thai jewellers as they were facing a shortage of raw materials.

The Thai jewellery industry depends mostly on imported raw materials. Most of the rough stones and gems imported from Madagascar are sapphires and rubies.

Daniel E.H. Dele'vauz, the honorary consul of Madagascar said that lifting the ban just for Thailand was unlikely, but he said joint ventures between the two countries to set up cutting factories in Madagascar were highly viable.

New GemeFancy identifies diamond color

GemeWizard Inc. is offering a free three-month trial of its new color-assessment program for fancy-colored diamonds, GemeFancy.

According to a release from GemeWizard, GemeFancy is a color-assessing and communication application that allows users to accurately identify, describe and communicate all the colors visible in fancy-colored diamonds, and to place them within the Gemological Institute of America's (GIA) Fancy Diamond color range.

The new system identifies a total of 27 main hues, each of which is modified into 36-42 fancy grades and other color descriptions. The images are described using the standard GIA terminology and GemeWizard's alphanumeric color code.

The system then creates an e-mail message that allows the color information to be transferred to a third party.

Menahem Sevdermish, GemeWizard's founder and developer, said the goal of the new system is to provide anybody handling fancy-colored diamonds a common language with which to communicate hue information.

"By creating the GemeFancy, we have provided the industry with tools to make this dream of a common color language a reality," he said.

The free three-month trial period began on May 5. To access the free trial for three months with no obligations, visit Gemewizard.com/FancySquare.

GemeWizard, a provider of software and hardware for professionals in the colored-gemstone, fancy-colored diamond and jewelry industries, offers an entire suite of colored-diamond identification products, called GemeSquare. The system allows users to describe a gem's color more accurately and to communicate the information to other professionals who are not GemeWizard users.

GemeWizard is slated to display at a booth at the upcoming JCK Las Vegas jewelry show.

GIA Museum launches historical jewelry campaign

The Gemological Institute of America Museum is launching a new campaign to build the “GIA Historical Collection,” a comprehensive assemblage of jewelry, object d’arts and gemstones from all time periods and cultures world-wide.

“We intend to create a wide-ranging, world-class collection that captures the essence of each period in gem and jewelry history," said Elise Misiorowski, GIA Museum director. "People are always fascinated by historical pieces. It’s our goal to bring together a variety of significant treasures representing different episodes in history.”

“Jewelry is like a time capsule,” adds Misiorowski. “It can tell you about the economics, social structure, and technology of the culture it came from. Jewelry preserves this information in a very concentrated way. It’s like a Rosetta stone; if you know how to read it, you can interpret the socio-economic climate of the period.

Misiorowski also noted, “Gems also have their own individual story to tell. Their sources, significant owners, and other details give them their own personality and place in history.”

The Institute hopes to not only increase the number of pieces in its collection, but acquire examples from many different eras as well. The Institute anticipates this collection will quickly become an important addition to the museum because donors, visitors and students alike will benefit from sharing the stories of these intriguing pieces.

The GIA Museum plans to use the Historical Collection for display in other venues on a regular basis, accompanied by lecturers and experts, and pieces from the collection will be showcased further via podcasts and other educational vehicles. Misiorowski said “We hope the GIA Historical Collection will grow to inspire, educate and excite viewers today and for generations to come.”

In addition, the GIA Richard T. Liddicoat Gemological Library and Information Center will archive any accompanying documents for donated pieces that detail the item’s background and provenance in its Cartier Rare Book Repository and Archives.

Optimism Prevails at Baselworld

Every year the watchmakers and jewelers converge on Basel, Switzerland in the spring for Baselworld show. It is the place where exhibitors display some of the most dazzling luxury goods in the world.But the U.S. sub-prime mortgage crisis may prove to be an unwelcome guest that watchmakers fear could be a hindrance for business in the year ahead.It would be too soon to say what the outcome of Baselworld will be for diamantaires.Some are hailing the show as a great success (with plans for a bigger and better-located booth next year), while others are resigned to the fact that Basel is slow and just another necessary stop on the seemingly endless trade show merry-go-round.

Jacques Duchene, president of the BaselWorld Exhibitors Committee said the Swiss watch exports reached about 15.75 billion in U.S. dollars (16 billion Swiss francs) last year, a 16 percent increase over the previous year, and a rise of more than 50 percent over the previous four years, in a press conference,the day before the show opens.But despite the good news, economic troubles of recent months are worrisome, and companies should be prepared, Duchene said. He noted, however, that the Swiss watch industry is optimistic for 2008 since new markets in other parts of the world are developing, with Swiss watch exports to Russia up 57.4 percent and exports to China up 43 percent, for instance.

Vimal Lakhani, managing director of Kiran Gems, said the quantity of the people isn’t worrying him – he is interested in the quality, and this Sightholder, which specializes in white goods under 25 points, is seeing all the people it needs.“We are exhibiting for the first time for three reasons,” he says. “It’s a brand building exercise, we want to continue our relationship with our existing customers and we are looking to find new clients.”

According to Avi Paz of the Israel-based Avi Paz Group ,58 percent of exports goes to the U.S.therefore it would impact his trade but he also said there is a positive side to the decrease in the value of the dollar that people should not forget. “The interest rate of the dollar, which forms a lot of our expenses, has dropped. Fewer expenses will give us some oxygen, which is very important for our industry.”However being optimistic he said the U.S. will not affect him too badly,because of his philosophy of not concentrating on only one market and “We should not forget about the U.S., though,” he said. “We have to take care of it, even if it is going down.”

As for 2008 watch models, the Swiss will roll out original large chronographs for many of its new 2008 models, including ladies' chronographs that offer some innovative mechanical functions, said Francois Thiebaud, president of the BaselWorld Swiss Exhibitors Committee.Big cases, pink gold and jewelry-style watches for men are also on tap at this year's show.

GemTradeNet.com Introduces Online Gems & Jewelry Auctions

In 2007, GemTradeNet.com has taken its innovation and technological ingenuity to new heights. Having already earned the unique distinction of being a pioneer of the online B2B Gems and Jewelry marketplace, GemTradeNet.com is constantly striving to introduce new features and tools to streamline buying and selling. It is with this vision and mission GemTradeNet.com has launched the Auctions category.

Online gem and jewelry auctions are a very popular way of selling over the Internet. Sellers can add items to the auction listings by choosing a starting bid price, a reserve price and a Buy it Now price. All auction listings are featured in the main category pages, as well as in the Auctions section. Buyers view the details and can enter their bids to participate in the auction. Sellers can choose the number of days they wish to run the auction, and also schedule it for a particular date and time.

Also added in 2007 are the new look product listing and product detail pages. The real time search function allows buyers to easily find the exact gemstones, diamonds or jewelry items they need. Seller information together with the product details and three high quality images make up the product details page. The seller can also add his selling policies, which are then displayed for each individual listing. Registration for Buyers and Sellers is free, and GemTradeNet.com offers sellers a sliding transaction fee scale ranging from as low as 1.50% to 4.50%. To enhance the buying and selling experience comes the modified "My Account" which serves as the command and control centre for all buyers and sellers. They can manage their sales and purchases, edit their product listings and also respond to messages from potential buyers, all from within their member account on GemTradeNet.com.

All these new features were launched during the recently concluded Bangkok Gems and Jewelry Fair held at Bangkok, Thailand from the 28th of Feb to the 4th of March 2007.

Mr.Anil Oberoi, CEO of GemTradeNet.com remarked, "We have constantly tried to understand the point of view put forward by Gemstone and Jewelry buyers & sellers, and as a result we have introduced new features and tools. The feedback we have been receiving has enabled us to offer better solutions which are user friendly and cater to the specific needs of the Gemstone and Jewelry industry. In the future we are looking towards offering members more advanced tools and solutions which will assist them to run their online campaigns on GemTradeNet.com much more effectively."

Currently on GemTradeNet.com there are more than 500 registered members from the Gems and Jewelry Trade. The product sections for Gemstones, Diamonds and Jewelry feature a sizable collection of high quality products and more are being added each day. Buyers worldwide can access and view the product listings online at GemTradeNet.com.Contacting sellers for product enquiries and buying products can all be done with a few clicks. GemTradeNet.com is playing a vital role in revolutionizing the Gems and Jewelry Industry.

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