A trade delegation from Panama Diamond Exchange will be visiting Mexico City from October 4-6, 2015, to meet key members of the local jewellery trade and develop trade relations. The highlight of the visit will be a B2B networking event on October 5 at the Hyatt Regency Mexico City, featuring a presentation about the World Jewelry Hub and its development programme as well as interactions and one-on-one meetings.

The delegation is part of the outreach programme conducted by PDE and is the seventh roadshow in the reggion over the last five months. Earlier delegations had been to Peru, Colombia, Ecuador, Chile, Brazil and the Dominican Republic. The delegation will be led by Judy Meana, PDE Vice President, together with Lilibeth del Castillo, PDE Office Manager.

Mexico has the region's second highest per-capita income, and a middle class that today numbers between 40 million and 60 million. Luxury product sales stood at $14 billion in 2014, enabling the country to take the lead for the first time among the largest markets for luxury goods in Latin America.

"According to the Euromonitor International market intelligence firm, Mexico's luxury goods market increased by 11 percent over the past year, growing at rate that is five times faster than the Mexican economy itself," said Meana. "In fact, its luxury sales are expected to increase by 34 percent between 2014 and 2019, which will make Mexico one of the 10 fastest growing markets in the world over the five-year period. With jewelry and watches making up about 27 percent of those sales, this clearly is most a important prospect for the Panama Diamond Exchange and World Jewelry Hub."