GJEPC plans international B2B meetings to mitigate trade disruption
The Gem and Jewellery Export Promotion Council plans to organise virtual business-to-business meetings with prospective trade partners in Singapore and Switzerland and has asked its members to join its initiative.
The GJEPC plans to liaise with jewellery industry players in Singapore and Switzerland as both countries, along with India, import a significant proportion of gems and jewellery products from China and Hong Kong, the organisation announced on its website. Hong Kong and China shipments have been severely disrupted by the spread of Covid-19 and the GJEPC hopes to alleviate trade disruption through international cooperation.
India currently has a 16.6% share in Singapore’s gold jewellery imports, China has a 5.7% share, and Hong Kong has a 11.7% share, according to the GJEPC. Both China and Hong Kong also supply Singapore with a large amount of polished diamonds, silver and imitation jewellery, and coloured gemstones. The High Commission of India in Singapore has identified gems and jewellery as one of the 19 categories of goods that it is promoting for partnerships with businesses in Singapore.
The GJEPC has asked the Embassy of India in Switzerland to identify prospective gem and jewellery buyers in the country with which to set up virtual meetings to initiate trade discussions. India currently has a 0.1% share of gold jewellery imports to Switzerland and a 5.8% share of its polished diamond imports.
The council has asked its members to participate and directed those who wish to do so, to contact the GJEPC’s assistant director for international events Naheed Sunke by April 10.
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