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Hub for diamond trade.

HUB FOR DIAMOND TRADE. Panama has been admitted to the Kimberley Process for certification of rough diamonds so that they can be marketed from its territory, which will enable the creation of a Diamond Exchange, reports Laestrella.com.pa (Dec. 3, 2012). As far back as Sept. 2008 announcements were made for construction of a 50-story building to house a trading market for diamonds, a gemological institute, laboratories, cutting and polishing workshops, and a marketing hall. Panama's accession means it will be consolidated as a regional center for trade in rough diamonds, building on its geographic position and connectivity, and legal and financial stability. The Kimberley Process is an initiative of governments, the diamond industry and civil society to create adequate control of gemstones to market diamonds that are not "blood diamonds", ie outside of the market, obtained in war zones or by the use of slaves.
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Title Annotation:PANAMA
Publication:Caribbean Update
Date:Jan 1, 2013
Words:147
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