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Panama City, Panama--The Panama Diamond Exchange and CIBJO, the World Jewellery Confederation, joined forces to provide educational programs about corporate social responsibility for the gemstone and jewelry sectors in Latin America. A Memorandum of Understanding was signed in Panama by Eli Izhakoff, PDE's founding chairman, and Gaetano Cavalieri, CIBJO president.

The World Jewellery Confederation Education Foundation (WJCEF), was established by CIBJO with the assistance of the United Nations, with the goal of educating members of the diamond, gemstone and jewelry industries around the world about the principles of corporate social responsibility, and how to implement them in their businesses.

The educational programs, which will be delivered in Panama and elsewhere in the region, will include seminars, workshops and conferences covering the principles of ethical business practices, supply chain integrity, and social, economic and environmental sustainability. As has been the case with similar programs organized by CIBJO and WJCEF, 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. "To optimize their real potential, the gemstone and jewelry industries in the region need to be fully engaged with the international trade, and in today's environment that means complying with strict proper business standards and transparency."

"We believe this will not only promote CSR and sustainability in the Latin American countries, but also accelerate their growth and their share of the region's luxury product markets," said Cavalieri.  "Just as we are convinced that the gemstone and jewelry industry will benefit directly from the physical and commercial infrastructure that is being in developed in Panama, so do we believe that it will profit from a business that is managed in a principled manner." 

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