Panama to open up Latin American diamond market

Panama is building Latin America's first diamond exchange expected to be recognized by the World Federation of Diamond Bourses.

Wednesday, August 6, 2008

"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.
The $200-million project, due to be up and running by 2010, will include a purpose-built 50-story building in Panama City with safes, a gemmological institute, laboratories, polishing and cutting facilities and a trading hall.

More on this topic

Diamond Distributor Sets Up Shop in Panama

October 2009

The company 'Panama Diamond Exchange' expects to start operations next year, investing $300 million.

It will be Latin America's first diamond distributor, and will employ several hundred people in its offices in the "Costa del Este" area in the Capital City, informed Roberto Henríquez, Commerce Minister.

The man behind the diamond business

December 2008

Panama has become the 28th country to have a diamond exchange

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.

Diamond Exchange set up in Panama

October 2008

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.

Diamond trade makes come back in Latin America

September 2008

Strategically located at the middle of the two Americas, Panama plans to build a 50 floor building to host a diamond market.

The building will also have a gemmology institute, laboratories, cutting and polishing workshops, and a trading hall.

The Panama Diamond Market hopes to attract 300 agents or brokers, with emphasis on Argentina, Brazil, Chile and Mexico.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Software for banks, brokerage firms and financial institutions

Colombian company with more than 30 years in the market develops and offers IT solutions for Central American companies in the financial and banking sector.
Solutions for managing investment portfolios, investment...

Stock Indexes

(Jan 16)
Dow Jones
-0.04%
S&P 500
1.10%
Nasdaq
1.20%

Commodities

(Jan 17)
Brent Crude Oil
68.530
Coffee "C"
123.4
Gold
1,336
Silver
17.150