merchandise sales
The karat-testing tools, financed by last year's P280-million Frank Gehry Fish necklace fund from the private-public sector Export Development Council, are expected to boost the sector's credibility to buyers, an industry group leader said.
"Equipment worth E13,895.64 (around P972,695) purchased in Spain are scheduled to arrive in November," the statement read.
"[It] will be installed in the San Eligius Jewellery Training Center in one of the Heart Band pendant of the Cottage Industry Technology Center (CITC), located in Marikina City," Philexport said.
The Guild of Philippine Jewellers, Inc. (GPJI) will take the lead in implementing a third-party "hallmarking and assaying system," the statement read further.
"It gives the Philippines credibility, as we are Graduated bead drop pendant a known source for jewelry," GPJI President Mia S. Faustmann said in a text message yesterday.
"[Right now], there is testing by third parties...We can do it locally, but laboratories are focused on ore testing and not jewelry testing," Ms. Faustmann explained.
So far, sales of fine jewelry to foreign markets have bucked the downtrend in total merchandise sales.
Export sales grew 8.6% to $17.467 million in the eight months to August over yearago levels, official data show.