Syndicate of Gold Smiths, Merchants Comprises 3.5 Thousand Members in 27 Governorates

The Syndicate of merchants and smiths of gold and jewelry comprises 2.5 thousand members in 27 governorates across the country.

The syndicate also comprises workers of workshops of gold, wholesalers, retailers of gold.

George Michel, Head of the Syndical Committee of Gold and Jewelry Industry and Trading at the Union of Egypt Workers, said that the syndicate has implemented some 150 contracts with various service presenters such as hospitals, pharmacies, medical testing laboratories, malls to get services to the syndicate’s members at suitable prices.

Michel added that the syndicate seeks to expanding the participation of the merchants and craftsmen in the local and international exhibitions under the umbrella of the syndicate in addition to provide data to open new markets of exports and imports and presenting economic information and international prices.

He went on to say that the syndicate intends to organize exhibitions for jewels that resemble the major fairs such as Dubai International Jewelry Week, Exhibition of Jewelry Arabia and Hong Kong Exhibition for jewels to activate sales and open new markets.

He made clear that the syndicate seeks to adopt an expansionist plan of its activities which includes establishing of a school to teach youths the craft of gold and jewels and upgrade efficiency of the workers in the sector according to scientific curricula and modern technology.

George Michel added that the syndicate organized official visits to the concerned agencies in the State to brief them on novelties in the gold and jewels industries and to acquaintance to experiments of syndical activities in foreign countries like Belorussia.

He mentioned that the syndicate attempted over that visit to Belorussia to open new markets and study chances of providing scholarships to workers who want to upgrade their experiences of the markets abroad and to known the finest technologies in gold industry.

He pointed out that the Syndical Committee comprises a number of commissions to settle disputes, to take care of legal affairs, employment, housing, statute of profession, investment to provide opportunities for those who want to overgrow their enterprises.

Michel assured that the syndicate has received 75 official complaints about commercial affairs, fraud, brought back of gems, disputes between members and companies.

He revealed that the syndicate settled 169 complaints friendly.

Michel confirmed that the syndicate always communicates with the concerned agencies in the State and has sent 53 memorandums and proposals to add amendments to solve problems related to the manipulated or doctored tax declarations through activating digital invoices.

The syndicate has participated in commissions in cooperation with the Hallmark Authority to activate the barcode and to strengthen control on golden products traded in the local market.

The syndicate launched database to register its members and their specialties in absence of any official information about people in gold market.

The syndicate set an electronic and paper register to be a reference to the official parties and those who in the craft of gold.

Officials of the syndicate’s website supply it with gold prices around the clock to be reference to the merchants and citizens at buying and selling.

This reference also avoids customer anxiety when he buys gold.

Michel warns that the local market suffers from chronic problems such as variation in prices of gold.

He proposed to set a government agency to monitor the market to prevent hurting of the customer and the market.

He forecasts that digitalization of gold market slashes the number of tax dodgers and enhances market value as all products will be censored.

He affirmed that as the State seeks establishment of Gold City which interprets its attention of this sector over the recent period.

This city will convert Egypt to become a regional center for gold and jewelry.

Translated by Ahmed Moamar