On April 22, 2021, the National Gemological Association held a Business Club meeting on the topic “Networking in the NGA and the Jewelry Industry” in a hybrid (in-person and online) format. The full recording of the broadcast is available via the link.
Over the past few years, much has undoubtedly changed in the industry, yet our domestic gemstone market remains far from the developed, self-regulating markets of countries that actively participate in the global gemstone trade. We have room for growth and much to learn – experience to adopt and adapt – so that over time our market becomes civilized and transparent.
During this online meeting, important issues concerning collaboration within our industry were raised, including gemstone supply and sales, joint customs clearance, legislative amendment initiatives, and more. Networking needs to become more structured and intentional.
First and foremost, communication within thematic chat groups needs to be streamlined. A Telegram chat has already been created, and we invite everyone to join.
We are currently preparing a questionnaire for members, which will later form the basis of personal profiles on the NGA website. Undoubtedly, over the five years since joining the Association, many of you have experienced significant changes – so it is important to update your information so that other market participants can reach out to you as professionals in your respective fields.
We firmly believe that our challenging market lacks cohesion and a collective voice that reflects the interests of its participants. Today, the NGA’s primary goal is to unite people within the community, jointly address shared challenges, and seek out new opportunities for growth.
The second, equally important question is: how will we recognize that our market relationships have become civilized and cultured? International practice in market interaction successfully employs various regulatory instruments, such as a code of ethics for market participants. A code of ethics defines the rules of conduct within the industry toward clients and other market participants. It is the very reputation that the international colored stone and diamond markets hold so dear – and whose significance is still so understated in our emerging young market. A code of ethics would make the industry safer and more comfortable for growth, as well as for collaborative interaction.
We invite you to join the working group to discuss the foundations of the National Gemological Association’s Code of Ethics.
We will keep you informed of all further developments and working group meetings via Telegram and email newsletters.
NGA – Precious Success TOGETHER!
The Association’s plans for the near future:
- Identify who is working in the jewelry industry and how they can collaborate for mutual benefit (via questionnaire)
- Determine how this information can be made available to other NGA members while the website and personal accounts are still under development
- Study the experience of conducting ethical business in other countries (based on the ICA Code of Ethics and the rules of the Israel Diamond Exchange)
- Revitalize community communication channels (Telegram, Instagram)
- Work on the National Gemological Association website is set to begin shortly
