Three major trade bodies have asked the organizer of the Hong Kong Jewellery & Gem Fair to delay the show until the political climate stabilizes.
“Currently 30% to 40% of the exhibitors are demanding to cancel [their] participation regardless of whether the situation improves,” the organizations explained in an appeal sent on Wednesday to Informa Markets, which runs the show.
The Gem & Jewellery Export Promotion Council (GJEPC), Antwerp World Diamond Centre (AWDC) and Israel Diamond Institute (IDI) are concerned the current situation will inhibit foot traffic at the event and risk the safety of their exhibitors, the groups said in the letter, obtained by Rapaport News. Many of the exhibitors’ clients have already informed them they will not even consider attending the show this year, the groups said.
Insurance companies will not provide coverage for goods if riots take place near the show’s location, and participants would be required to take out an additional policy, which is not currently being offered, the groups noted. Informa should also provide financial compensation, such as a discount or refund, to all participating companies, GJEPC, AWDC and IDI added.
Informa intends to carry on with the show, believing the situation will calm down before then, it told Rapaport News earlier this month.
Image: The 2018 Hong Kong Jewellery & Gem Fair.