The World Jewelry Hub (WJH) recently saw the first export of finished jewellery manufactured in the WJH Free Zone. The transaction was managed under the centre’s expanded free-zone licence, which permits the establishment of manufacturing facilities within its jurisdiction.
“This was a small export, but a giant step for the World Jewelry Hub,” said Mahesh Khemlani, president of the World Jewelry and Diamond Hub, Panama. “The expansion of the licence allows us to develop the range of activities within our centre to include both trading and manufacturing, realising our vision of becoming a one-stop shop for the jewellery industry.”
The long-term plan for WJH includes the creation of areas dedicated specifically for jewellery manufacturers, who in addition to enjoying the benefits of the free zone will have immediate access to raw materials imported into WJH, and proximity to traders from across Latin America and the international markets.
“Visitors to our trading floor are often struck by the variety of jewellery and gemstone products being transacted,” said Ali Pastorni, WJH senior vice president. “With this latest development, our members can produce and offer their own jewellery, enjoying all the benefits of operating in the World Jewelry Hub. We forecast that this will accelerate the growth of our fast-expanding membership base.”