Turkish and Latin American Jewelry Ties Strengthened with MOU

(IDEX Online News) – The Istanbul Chamber of Jewelry (IKO) and the World Jewelry Hub (WJH), based in Panama City, have concluded a Memorandum of Understanding (MOU), according to which both sides will collaborate to grow the respective jewerly markets and industries in Turkey and Latin America.

Noryar Isler, chairman of the board of directors of the Istanbul Chamber of Jewelry, and Eli Izahkoff, chairman of the World Jewelry Hub, signed the MOU at the recent Presidents’ Meeting of the World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA), in Tel Aviv, Israel.

“There is a natural synergy between our two centers, said Izhakoff. “As one of the world’s top five gold jewelry producers, Turkey’s jewelry industry is an easy fit for Latin America, and WJH is uniquely equipped to enable its members’ entry into the market. We are also an important source of gemstones, precious metals and finished jewelry produced in Latin America, and this expands the range of possibilities for the Turkish jewelry sector.”

Isler said that the agreement was significant because it was a union of two organizations who, “represent the future growth of the international gemstone and jewelry industries.” He said that both Turkey and Panama would shortly become important gateways in the global jewelry trade – as they are both perfectly located to take advantage of expanding markets in Eastern and Central Asia and Latin America.

The IKO, which has around 4,000 members and recently formally applied for membership of the WFDB, hopes to cement the MOU, by establishing a presence in the World Jewelry Hub center in Panama City.