The initiative was deemed essential by all participating companies, reinforcing its role in strengthening Brazil’s presence in the international gemstone market.
The participation of Brazilian companies at GJX Tucson 2024, one of the most relevant trade shows in the gemstone and jewelry sector, highlighted the importance of Precious Brazil as a strategic pillar for integrating the national industry into the international market. According to a preliminary survey, 100% of participating companies emphasized the program’s fundamental role in enabling their presence at the event.
Precious Brazil, created by the Brazilian Gems and Jewellery Trade Association (IBGM) in partnership with the Brazilian Trade and Investment Promotion Agency (ApexBrasil), aims to promote Brazilian gemstone and jewelry companies abroad.
Despite the global economic uncertainty, the trade show generated new business opportunities for Brazilian exhibitors. Results varied significantly among companies, but one standout achievement was a single company securing 70 new business contacts.
Additionally, deals closed during the event ranged from $75 to over $1.2 million, proving the event’s potential to boost the sector’s exports.
However, participants’ overall perception of the event’s results was mixed. While 69% rated the show as good or excellent, 61% reported that results fell below expectations. Some companies indicated they would take a more cautious approach before making new investments, citing the need to reduce costs and better assess market trends.
Economic and Political Landscape
Political and economic uncertainty in the United States, especially following Donald Trump’s recent election, was identified as a factor influencing buyer behavior. “The market is very conservative, afraid to commit. Many visitors did not attend, but those who did, made purchases,” said Clarissa Maciel, manager of the Precious Brazil Project.
Despite these challenges, GJX Tucson reaffirmed its relevance as a business platform for Brazilian companies, further solidifying Precious Brazil as an essential initiative for expanding the country’s presence in the global gemstone and jewelry market.
About ApexBrasil
The Brazilian Trade and Investment Promotion Agency (ApexBrasil) works to promote Brazilian products and services abroad and attract foreign investment to strategic sectors of the Brazilian economy. In order to achieve its goals, ApexBrasil carries out several trade promotion initiatives aimed at promoting Brazilian products and services abroad, such as prospective and trade missions, business rounds, support to the participation of Brazilian companies in major international fairs, visits of foreign buyers and opinion makers to learn about the Brazilian productive structure, among other business platforms that also aim at strengthening the Brazil brand. The Agency also acts in a coordinated way with public and private players to attract foreign direct investment (FDI) to Brazil with a focus on strategic sectors for the development of the competitiveness of Brazilian companies and the country.
About IBGM
The Brazilian Gems and Jewellery Trade Association is a national, non-profit private entity founded in 1977. Its mission is to represent, integrate, develop, and promote all segments of the gem, jewelry, and fashion jewelry chain. The association works as an advocate for their interests and by promoting knowledge transfer, trust, and appreciation of their products among consumers.
About Precious Brazil
The Industry Sector Project Precious Brazil aims to support and promote Brazilian companies in the Minerals, gemstones, jewelry, and fashion accessories segments that seek to export their products, whether they are beginners, exporters, or already internationalized. Coordinated by IBGM – The Brazilian Gems and Jewellery Trade Association in partnership with ApexBrasil – Brazilian Trade and Investment Promotion Agency – the project currently serves approximately 150 companies in the industry.
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