news agency

Adex asks the government to resume the swap mechanism to take off Peruvian jewelry

The president of the Jewelry and Goldsmith Committee of the Association of Exporters (Adex), Rocío Mantilla, pointed out that this year could be promising for the jewelry of gold in the face of growing demand from the United States, however, the shortage of raw material would prevent Peruvian companies from taking advantage of that trend.

Given this and in order to overcome this inconvenience, a delegation from the union met with the Minister of Economy and Finance, Pedro Francke, and representatives of the Ministry of Production and Energy and Mines to propose a possible solution to this problem: resume the swap mechanism. The proposal has already been submitted and Adex expects a prompt response.

“The Government announced on several occasions its interest in transforming raw material, give added value. Now we hope that concrete steps will be taken and our activity will be promoted, generating more jobs and foreign exchange for the country,” said Mantilla.

In recent years, fishing and chemicals have maintained shipments for more than US$ 1,000 million, however, jewelry could be a new engine that adds to the recovery of Peru.

“If they had accessed the raw material, shipments of the item would have closed 2021 at US$300 million and not US$120 million. Now we await the decision of the MEF about this initiative that would allow companies to reduce the cost overruns of their importation,” he said.

estimated that since mid-2019 when the swap could not be used, companies in the sector would have imported around 8,000 kilos of that precious metal at a price above which Peru exports it, making them less competitive.

When faced with an order for jewelry from a Peruvian company, the swap mechanism allowed an international company to deposit gold in a foreign bank on behalf of a Peruvian mining company, which received it and exchanged it for gold it produced and delivered it to the national jeweler. that gave it added value to later market the pieces in international markets.

.

You may also like

Hot News

TRENDING NEWS

Subscribe

follow us

Immediate Access Pro