South African jewellery manufacturers plan to secure a bigger share of the estimated $150-billion global market for jewellery products with the launch of a Joint Action Group (JAG) in Midrand on Wednesday.
The initiative was undertaken with the assistance of Trade and Investment South Africa (Tisa), the convenor of the JAG, Adrian du Plessis, said. South Africa currently had significantly less than one percent of the global market share.
Leading South African jewellery manufacturers have agreed to participate in the JAG, including prominent jewellery development and community-based organisations, Vukanie-Ubuntu and Kgabane.
The first challenge for the JAG would be to present an exhibition of South African jewellery at International Jewellery London — a prestigious jewellery trade fair — during the latter half of the year.
This would be the first time that a broad selection of South African jewellery would be presented in a national pavilion at an international show sponsored by Tisa.
Du Plessis said the jewellery sector in South Africa was well poised to take up the export challenge. ”We have a lot in our favour.
”With a partnership between manufacturers, and government we see no reason why we shouldn’t become a major jewellery exporter and we think the JAG is an important turning point for the sector and a stimulus for future growth.” South Africa currently manufactures about 13 tons of gold jewellery per year, of which less than 5 tons is exported. The manufacturing sector in South Africa employs about 3 000 people.
India, which is not a gold mining country, manufactures about 600 tons of gold jewellery per year and employs over a million people in the industry. – Sapa