The Gem & Jewellery Export Promotion Council (GJEPC) signed three important Memorandums of Understanding (MoUs) with De Beers, the Guangzhou Diamond Exchange (GZDE) and the Guangdong Gems and Jade Exchange (GDGJE) respectively at the inauguration of the 33rd India International Jewellery Show (IIJS) on 4 August 2016.
The MoU between GJEPC and De Beers said that the two parties will undertake joint promotional activities to drive consumer demand for diamond jewellery in India. The marketing campaign will be run over the key selling season later this year. Details of the funding have been discussed and will be subsequently decided by both sides, according to representatives of the two.
Bruce Cleaver, CEO of De Beers, said: “I have said before that we must be unrelenting in driving consumer demand so we are very excited about this partnership with GJEPC, a globally acclaimed export trade body. India is already one of the world’s most important markets for consumer sales of diamond jewellery and we believe it has an exciting opportunity for further growth.”
The MoUs of GJEPC with GZDE and GDGJE will provide a framework to establish cooperation and facilities collaboration between the parties, on a non-exclusive basis, in areas of mutual interest and understanding in the diamond industry, promotional activities and trading. The two Chinese bodies are among the largest in southern mainland China.
Liang Weizhang, general manager of GZDE said the MoU was a very good start, and would be an important milestone in cooperation between the Indian and Chinese diamond industries. He also expressed that Indian companies could bring goods to display at GZDE without paying any duties if they were traded within the exchange or sold to traders from other international markets.
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