AGTA’s Revised Code of Ethics Stresses Transparency

14/07/2015 22:41

The American Gem Trade Association (AGTA) has made a few revisions to its Code of Ethics and Fair Business Practices document that are designed mostly to stress the importance of transparent supply chains in the colored gemstone world. AGTA CEO Doug Hucker said that revisions emphasize that members must do everything they can to assure the stones have been sourced in legitimate fashion and to comply with U.S. and international laws. Unlike diamonds, which are much more centralized and conducive to a monitoring program like the Kimberley Process, the colored gemstone market is very diverse and scattered across the world. So rather than an international agreement on trading, the industry aks governments to enforce laws for imports and exports of goods.