WGC plans finance scheme

Wants to support lower income groups to purchase gold

Post By : Diamond World News Service On 28 December 2007 12:00 AM
The Thai Gem and Jewelry Traders Association (TGJTA) and the Japan Jewelry Association (JJA) signed a memorandum of understanding regarding the disclosure of Beryllium (Be) treatments in corundum within the trade at the recently concluded 2007 CIBJO Congress in Cape Town. %% The memorandum states that “the exporter of loose corundum must disclose the treatment on the invoice for the export item using the following terminology: ‘Non- Be-Treated, Be Treated and Unconfirmed Be Treatment’.” The JJA requested the same disclosure rules would also be applied to jewellery set with corundum. %% The TGJTA said it would enforce compliance of these rules in Thailand, while the JJA confirmed that its members must follow the same disclosure standard in their domestic transactions. Cases of non-compliance will be dealt with under the rule of the Japanese association. %% Both parties resolved to establish a set of similar disclosure standards for Be identification with support from gem laboratories, who will conduct joint research in order to strengthen the disclosure procedure. The JJA welcomed TGJTA’s proposal to make information about Be treatment available to the downstream market, i.e. to retail and consumers level. %% Finally, TGJTA proposed to create a “Cluster Blue Sapphire Group” that would export only non-Be-treated corundum. Once this group is formed, a list of its member companies will be made available to the JJA.

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