Panama Diamond Exchange and CIBJO, the World Jewellery Confederation, will jointly develop educational programmes related to the principles of CSR for the gem and jewellery sectors in Latin America. A Memorandum of Understanding in this regard was signed in Panama by Eli Izhakoff, PDE's Founding Chairman, and Gaetano Cavalieri, CIBJO President.

The World Jewellery Confederation Education Foundation (WJCEF), which was established by CIBJO with the assistance of the United Nations to implement the CSR educational programmes for the industry is also a party to the MoU.

The focus of the activity will be to conduct various programmes including seminars, workshops and conferences, covering the principles of ethical business practices, supply chain integrity and social, economic and environmental sustainability. Some of these may be attended by specialist instructors endorsed by the UN Economic and Social Council may participate. Graduates will receive diplomas bearing the official seal of WJCEF.

"For PDE this is an important milestone, for we consider the establishment of ethical business structures in Latin America to be part of our mission," said Izhakoff, adding, "In today's environment that means complying with strict proper business standards and transparency. It is to help them achieve this that the agreement was concluded."

"We are delighted to be joining with PDE in this program, which we believe will not only promote CSR and sustainability in the Latin American countries, but also will accelerate their growth and their share of the region's luxury product markets," said Cavalieri.