The World Jewelry Hub has reported the first export of finished jewelry manufactured in the WJH Free Zone. The transaction was managed under the center’s expanded free-zone license, which now 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, which just recently changed its name from the Panama Diamond Exchange. “The expansion of the license allows us to develop the range of activities within our center to include both trading and manufacturing, realizing our vision of becoming a one-stop shop for the jewelry industry.”
The long-term plan for the World Jewelry Hub includes the creation of areas dedicated specifically for jewelry 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 jewelry and gemstone products being transacted,” said Ali Pastorni, WJH Senior Vice President. “With this latest development, our members can produce and offer their own jewelry, 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.”