HUB 生产基地 JNA November/December 2025 | 23 Achieving this calls for regulatory alignment through a mutual recognition agreement, harmonised frameworks and adoption of shared industry benchmarks that facilitate seamless trade and uphold quality standards across the region. – Charles Ho Nai Chuen, president of the Singapore Jewellers Association firdauslatif photo / Shutterstock.com Gold jewellery on display at a jewellery shop in Kuala Lumpur, Malaysia 马来西亚吉隆坡一家珠宝店展出的金饰 ASEAN is Hong Kong’s second-largest trading partner, with bilateral trade recording an annual average growth rate of 5.7 per cent. In 2024, total merchandise trade reached US$165 billion, and jewellery and other related products ranked second in Hong Kong’s domestic export commodities to ASEAN. The Mainland and Hong Kong Closer Economic Partnership Agreement signed in 2003, meanwhile, grants tariff-free access to Hong Kong goods, jewellery included, entering China. “ASEAN jewellers can consider setting up manufacturing facilities in Hong Kong or cooperating with Hong Kong producers to create designs for a mainland audience or overseas markets,” he added. For his part, HKJJA Chairman Victor Chan said ASEAN presents a sea of opportunities for Hong Kong jewellers. ASEAN has a combined population of around 700 million. It also brings to the table a younger and energetic workforce. Exploring new markets has likewise become more critical as higher US tariffs continue to disrupt global businesses, including the jewellery trade. Chan explained, “The US tariff hikes remind us of the risks associated with over-reliance on a single nation. However, within every challenge lies opportunity. This is our moment to diversify into Europe, the Middle East and ASEAN. It is time to strengthen our regional supply chains and invest in innovation.” Within ASEAN, collaborations targeted towards expertise-building are also vital. Le Yen, vice president of the Vietnam Gemstone Jewelry & Art Crafts Association, highlighted Vietnam’s rich natural resources of coloured gemstones. Beyond that however, there is a need to develop the country’s infrastructure and logistics as well as technology, specifically blockchain and AI capabilities. Its gemstone cutting and polishing industry is also underdeveloped, compared to more advanced counterparts such as Thailand. The Philippines, for its part, offers fresh opportunities for joint ventures. Mia Florencio, vice chairman of AGJA's ASEAN International Committee and past president of the Guild of Philippine Jewellers Inc, explained that majority of the jewellery products manufactured in the Philippines are sold locally, which means there is untapped potential in the export market. “Come to the Philippines and sell your products or do joint ventures with Philippine jewellers. The country is home to more than 100 million people and that is a big market,” she continued. Onwards to the future Hurdles to regional integration, specifically fragmented, country-specific standards, persist, according to Charles Ho Nai Chuen, president of the Singapore Jewellers Association (SJA). Inconsistent certification and hallmarking processes across borders coupled with varying product disclosure requirements create trade barriers and consumer confusion, he added. The solution is to harmonise regional trade practices. The SJA, for instance, is eyeing the creation of a mutual recognition agreement among ASEAN members. “In this way, we can align critical areas and establish common benchmarking criteria, like for gold purity, for instance,” explained Ho. Gemmological certification can also be standardised while member countries can come up with unified disclosure frameworks. With its modernised logistics, advanced digital trade platforms and established industry best practices, Singapore is well positioned to support ASEAN in accelerating integration, he added. “Achieving this calls for regulatory alignment through a mutual recognition agreement, harmonised frameworks and adoption of shared industry benchmarks that facilitate seamless trade and uphold quality standards across the region,” remarked Ho.
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