精辟视野 JNA May/June 2023 | 25 JNA: What are the key points of this business plan? Cody: It will encompass every critical aspect of our operations – trade shows, promotions, sustainability and social responsibility. We have about 600 members, and we are targeting around 1,000 within a few years. ICA is a small segment of the community but it is influential, being the only body representing coloured gem traders worldwide. It is not just about our members; it is about being involved in ensuring processes are compliant, ethical and respectful of all segments of our industry. We will work closely with the World Jewellery Confederation (CIBJO), country organisations, educational institutes and gemmological laboratories. JNA: Which markets and regions will be the focus of your growth strategies? Cody: We plan to open an office in China. The purpose is to convert all printed and online information on ICA products and services, promotional materials and publications in Chinese for mainland distribution. It will be a duplication of everything that we do. The language barrier is holding us back but, with a local office, China can become a huge area for growth. We will have an extensive awareness programme to educate the market on gems, other than ruby, sapphire and emerald. With ICA lobbying and the growth of our membership in China, we can maybe talk with the government about streamlining some processes for seamless trading. We also plan to set up gemstone bureaus in Dubai, for instance, since it has a massive potential to become a gem-trading hub. We are collaborating with CIBJO on developing sustainable practices to aid artisanal miners who provide 80 per cent of our gems. We must look after them and help them understand the importance of compliance. We need to protect their livelihood, too. Through our charitable arm, Gems Keep Giving, ICA completed a project in Kamtonga, Kenya to provide access to fresh drinking water – a first for the community. We started in December 2021 and finished by end-January 2022. ICA provided project management services through our members. Now, they have clean drinking water, and they are learning about agriculture and probably farming animals. I hope it is the first of many more projects to come. New initiatives on occupational safety, environmental reparation, education, inclusiveness and helping women in the workforce are underway, but we need to generate more funds. JNA: How is 2023 shaping up for the coloured gemstone sector? Cody: There is huge potential for growth in the gemstone business, with markets reopening. Covid has severely interrupted supply chains so sourcing will be challenging. Prices are up 20 per cent to 30 per cent, too. Major jewellery auction houses however are still reporting record prices for coloured gems amid geopolitical and economic difficulties. Coloured gems have been traded and treasured for centuries. That has not changed. Demand for exceptional, natural gems as gifts and tokens of love has endured and will continue to endure. ICA also provides a level of membership that raises the bar for ethics and compliance. We need to bring it up to speed and make the process more robust so people can rely on the AEM badge. Consumers want to see that. AEM was launched in 2020, but requirements are changing. We are working with CIBJO and the United Nations to help our members become as aware as they can be, understand their duties to consumers and be able to provide ethically mined gems. We remain optimistic. There will be political issues to deal with alongside other challenges especially in sourcing, but it is amazing how we keep finding new deposits in different areas. There might be a change of direction for demand, depending on where sources are more reliable.
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