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  ICA shifts focus to Asia, moving headquarters out of New York


August 10, 2012


Long headquartered in New York, the International Colored Gemstone Association (ICA) has in recent years made a strategic decision to refocus its gaze eastward, and, indeed, in early July it transferred its headquarters to Hong Kong from New York.

While it still plans on maintaining a New York presence, ICA says the decision to move stemmed from its desire to keep its thumb on the pulse of the rapidly expanding Asian markets, and to actively participate in the further development of the colored gemstones and jewelry industry in the region.

"This was not a decision that we made easily, and it followed a great deal of debate," said ICA President Wilson Yuen. "After all, our international offices have been based in New York for many years. But we felt that we could not ignore the trends that are sweeping our industry and the global economy in general.

To underscore its commitment, later in July ICA signed a letter of intent with the government of Hunan, China, with the aim of establishing a national manufacturing and training center for colored gemstones and jewelry in the province's capital, Changsha. Also signed was an agreement to hold the 2013 ICA Congress in Hunan.

"This is an extremely significant breakthrough for the ICA and the colored gemstone and jewelry industry," said Yuen. "The government of Hunan has been very forward-looking in recognizing the growth of the colored gemstone sector and the increasing popularity of jewelry set with precious gems in China and throughout Asia."

ICA was founded in 1984 and today has a membership of about 700 gemstone dealers, cutters and miners from 47 countries.

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