September 29, 2007

Hong Kong - The International Colored Gemstone Association (ICA) and the China Council for the Promotion of International Trade (CCPIT) Panyu Branch have signed a Memorandum of Understanding during a visit by an ICA delegation to Panyu, Guangzhou during the Hong Kong Jewellery & Watch Fair.

The signing of the MOU coincides with the CCPIT's initiative announcing 2008 as the Thematic Year of Colored Stone Promotion.

The delegation, headed by ICA president Andrew Cody, was received by officials of the Panyu government including Tan Ying-hua, Secretary of the Chinese Communist Party of Panyu District & Chief Director of People's Congress, Panyu. Mr. Ying-hua gave assurances that government officials are placing the utmost importance on promoting the gem and jewelry trade in Panyu and are looking forward to working with ICA on this endeavor.



Andrew Cody assured Mr. Ying-hua, and the delegation representing the Chinese government, that ICA was ready and willing to provide the necessary support for the industry and pledged to work closely on the initiative to be launched in 2008.

CCPIT's chairman, Li Zhi-wei, a member of the Chinese delegation, stated that, "ICA, as an industry authority, has always taken the lead in the promotion and dissemination of information regarding colored gemstones. With this capacity to converge industry information and resources globally from gemstone miners, manufacturers and dealers around the world, ICA is efficiently facilitating the rapid development of the colored stone industry by strengthening international cooperation, multi-directionally and laying a solid foundation for sustainable growth".  He indicated that the CCPIT is already planning to continue the Year of Colored Gemstone Promotion in 2009 as they expect great success with it, especially in light of ICA's commitment to participate.

ICA invited Hecliton Santini Henriques, president of IBGM-Brazilian Institute of Gems and Precious Metals, to join the tour to Panyu. Other members of the ICA delegation included former ICA president Joseph Menzie, vice president Edward Boehm, vice president Prida Tiasuwan, directors Wilson Yuen, Kamal Kothari and executive director Barbara Lipatapanlop.

Over 400 jewelry manufacturing companies are now located in Panyu, which is well known as the biggest jewelry manufacturing base in China. According to government statistics, jewelry exports for all of China in 2006 amounted to US$6.87 billion dollars, with Guangdong province accounting for US$3.47 billion dollars of the total. Exports from Panyu totaled US$1.15 billion dollars. Statistics also show that the processing trade of the Panyu gem and jewlery industry accounts for 60% of the whole of China, and over 90% of the jewelry found in Hong Kong is manufactured by craftsmen in Panyu, which indicates that jewelry craftsmanship skills there are comparable to any major manufacturing center in the world. Panyu is also the district with the strongest economic growth, playing a vital role in Guangzhou's master plan for economic development known as "Southward Expansion". It is believed that this is a new era for the colored gemstone industry and new development opportunity for the whole Chinese jewelry industry.

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For more information contact:

International Colored Gemstone Association
19 W. 21st Street, Suite 705
New York, NY 10016
USA
Tel: 1-212-620-0900
Fax: 1-212-352-9054
ica @ gemstone.org