The project also prepares new strategies to close the year on a high note.
Precious Brazil, a sectoral project created by the Brazilian Gems and Jewellery Trade Association (IBGM) in partnership with the Brazilian Trade and Investment Promotion Agency (ApexBrasil), continues to deliver remarkable results in 2024. Designed to promote Brazilian gemstone and jewelry companies abroad, the initiative has already shown significant progress toward its annual goals by September.
Partial results: January–September 2024
By the ninth month of the year, Precious Brazil had achieved substantial advances toward its 2024 targets. The export value reached USD 99,550,000, nearing the annual goal of USD 164,723,500.88, despite challenges in the international market. The number of exporting companies hit 103, just shy of the target of 106, while the number of new participants exceeded expectations, with 55 new companies joining — more than three times the annual goal of 15 companies.
This performance reflects Precious Brazil’s ongoing efforts to expand its reach, particularly through initiatives in new regions and strategic partnerships, such as with PEIEX (Export Qualification Program), an ApexBrasil initiative that helps companies begin the export process in a structured and secure way.
Challenges in the international market
Despite these advances, the export volume target remains a significant challenge. A slowdown in external markets, particularly in exports to Asia, contributed to performance falling short of expectations. However, the growth observed in this region compared to the previous year indicates room for further progress.
Steering committee meeting
In the coming weeks, Precious Brazil’s steering committee will hold its second meeting of the year. This gathering will provide an opportunity to evaluate the results achieved thus far and strategize ways to overcome the challenges posed by the global market.
Key topics on the agenda include planning actions to mitigate the effects of a challenging exchange rate and ensuring the project’s budget execution. The meeting will also focus on aligning new approaches to strengthen efforts toward meeting the goals agreed upon for the year.
A path toward the future
With partial results underscoring the project’s positive impact and a strategy aligned to market challenges, Precious Brazil remains a cornerstone in solidifying Brazil’s presence in the global gemstone and jewelry industry.
The collaborative work between participating companies, project partners, and managers continues to pave a promising path for the segment in the international 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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