21 Oct 2021
DiamondWorld Directory
Home |
Archival
Home
Cambodia - Long Road Ahead
Cambodia officially known as the Kingdom of Cambodia and once known as the Khmer Empire, is a country located in the southern portion of the Indochina Peninsula in Southeast Asia. The capital and largest city is Phnom Penh, the political, economic, and cultural center of Cambodia. Emerging as one of the attractive economies, Cambodia has eyed to become a precious stone and jewellery hub in Southeast Asia region in the near future. Nevertheless this traditional and family run market has a long way to go. Kunjal Karaniya explores this market.
By: Diamond World News Service
|
Apr 23 2014 4:00PM
|
Reference: 9060  

DecreaseIncrease
According to a report by KPMG, global jewellery sales will grow at 4.6 per cent year-on-year. The global jewellery market could reach $280 billion in 2015, up from $185 billion in 2010.While the U.S. remains at the top of the table with 30 per cent of the total market share, the report found that India and China are gaining ground.By 2015, China is expected to see about 22 per cent of the diamond processing market.“I have been selling gems to many ASEAN countries, and the Chinese market is the largest ordered of my product,” said Tay Heab, a local gem trader.He said that the price of gems has slightly increased compared to prices last year, and orders for products from his shop are also on the rise.

With the many tax preferential or tax-free treatments extended to Cambodia as one of the Least Developed Countries by many developed nations including the United States, gems and jewellery traders around the region might move their bases to Cambodia to take advantages of their reduced tariffs on imports. Besides, Cambodia was admitted as a member of the Kimberley Process on November 30, 2012 in Washington D.C., the United States. The Kimberley Process (KP) is a joint governments, industry and civil society initiative to stem the flow of conflict diamonds-- rough diamonds used by rebel movements to finance wars against legitimate governments. As of November 2012, the KP has 54 participants, representing 80 countries and regions, according to its website. “As a member of the Kimberley Process, Cambodia will be able to obtain significant advantages to win legal trust in such industry, and be able to attract major investors to establish diamond-cutting factories in Cambodia,” Cham Prasidh said. He said the gem and jewellery industry would create tens of thousands of jobs for the people, enabling them to acquire specific skills in cutting diamonds, as well as opening Cambodian market to the European Community, the United States and in other countries.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet

First | Previous | 1 | 2 | Next | Last | All

Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2021
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 30007
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 6395
GJEPC Chairman Interview
Views: 26289
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 36068
Promo for IJ Awards 2012 at NDTV Profit
Views: 50039
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 63297
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 20284
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 47965
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 47099
Member of:
Supporter of: