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Articles from DIAMONDS BY TYPE - SYNTHETIC / LAB-CREATED (80 Articles)











Synthetic diamonds are likely to be classified separately to natural diamonds by customs agents
Synthetic diamonds are likely to be classified separately to natural diamonds by customs agents

Changes to synthetic diamond imports

The Australian Government has provisionally approved a new import classification for synthetic diamonds after discussions with CIBJO and the Jewellers Association of Australia (JAA).

The tariff classification will differentiate lab-grown stones from natural diamonds, with the Department of Home Affairs (DHA) agreeing that the move is a “necessary step to safeguard the Australian jewellery industry” as well as consumers.

The suggested changes to regulations relating to classifying lab-grown diamonds were recommended by CIBJO to its Australian member, the JAA, with JAA director Ronnie Bauer leading discussions with the DHA.

CIBJO President Gaetano Cavalieri has congratulated Bauer and the JAA for the outcome.

The World Customs Organization’s Harmonized System Committee is expected to approve the policy soon. It will then be debated in Parliament and could be in effect in less than two years.











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Thursday, 17 October, 2019 12:24pm
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