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Panama Diamond Exchange to launch soon
Will be a landmark for the Latin American gem & jewellery industry
By: Diamond World News Service
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Oct 20 2008 5:38PM
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Reference: 3154  

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The Panama Diamond Exchange is soon to be launched on October 24. The ceremony will be in the presence of Panamanian governmental ministers and deputy ministers, directors of the Panama Diamond Exchange and leaders of the world diamond and jewellery industries including Avi Paz, President of the World Federation of Diamond Bourses (WFDB); Gaetano Cavalieri, President of CIBJO, The World Jewellery Confederation; Eli Izhakoff, Chairman of the World Diamond Council; Jacob Banda, President of the Diamond Dealers Club of New York; and Alex Popov, president of the Moscow Diamond Exchange.

The attendance of Panama's political leadership, will underline the government's commitment to the Panama Diamond Exchange and its effort to see it as a key component to position Panama as Latin America' primary provider of financial and business services. The launch will be mark a milestone in the development of the diamond, gemstone and jewellery business in Latin America.

The Exchange will house Latin America's first and only complex dedicated to the secure and orderly trade in diamonds, gemstones and jewellery. Erez Akerman, the President of the Panama Diamond Exchange said "Anchored by our bourse, the new complex will provide the infrastructure that will enable Latin America develop into the next great diamond market."

The government has begun granting the area of the new Panama Diamond Exchange Tower with permanent Free Zone status, which will help eliminate taxes and duties on transactions conducted within the premises. The Panama Diamond Exchange Tower will feature a secure and state-of-the-art high-rise building housing company offices, showrooms, gem labs and banks. It also will serve as the permanent residence of the Panama Diamond Exchange, which in May of this year was accepted as Latin America's only member in the World Federation of Diamond Bourses.

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