Erez Akerman, president of the Panama Diamond Exchange, is an investor who is convinced that many things will change.
How did the idea for a diamond exchange come up?
The idea came about three years ago and ever since then serveral diamond related organizations have been working with together with the government in order to prepare the conditions that are necessary for the project to be developed.
Will this be the first diamond exchange in Latin America?
Panama is building Latin America's first diamond exchange expected to be recognized by the World Federation of Diamond Bourses.
"Latin America is the last frontier," said Erez Akerman, who heads the Panama Diamond Exchange, the group behind the project. "We are looking at four main markets: Brazil, Mexico, Argentina and Chile," he told Reuters in the exchange's temporary offices in one of Panama City's upscale districts.
Panama will host the first diamond exchange in Latin America which will be installed on October 24.
Authorized by the World Federation of Diamond Bourses, The Panama Diamond Exchange (PDE) will become the business framework for jewelers in the region and will develop a regulated system for trading diamonds, precious stones and other jewels.
After an investment of more than $138 million an announcement has been given for the start of operations on the Vaguil SA Free Zone, in May 2014.
Capital.com.pa reports: "The diamond exchange which aims to turn Panama into a regional center for trade and logistics serving the global community in the exchange of diamonds, gemstones, pearls and other precious items is set to become a reality ...
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