All of the international diamond dealers are bringing their goods to the United States. Total caratage shrunk from 9.9 million carats to 5.5 million. The Colombian government plans to institute new mining laws in 1998 to improve Colombia's production of emeralds and the cutting industry. The plan is to allow foreign investment in the exploration and mining of emeralds. The center will be in Bogota and will include a bourse, training center, laboratories, and a cutting center.
Many dealers remain skeptical.
Thailand Thailand is still reeling from a financial crisis. Gems and jewelry have slipped from the second largest export to the sixth largest. This might take two or three years. However, Thai dealers are simply revaluating their inventories to reflect the new exchange rates. This financial crisis will create fewer, but larger, companies in the long run.