Thank you, Mr. Speaker. Mr. Speaker, the American Gem Society Laboratories is one of the major polished diamond grading laboratories in the world. The American Gem Society grades polished diamonds for colour, clarity, carat and cut. It is one the world leaders in developing grading certification processes and was the first major laboratory in the world to grade for cut, based on its own cut grade system.
I am pleased today to host a delegation from the American Gem Society Laboratories, and at the appropriate time I will recognize my guests who are present in the gallery.
The American Gem Society currently operates one lab in Las Vegas, Nevada, and the United States is the primary market for their certificates. Some polished diamonds produced in the Northwest Territories are graded by the American Gem Society, primarily the higher quality and best cut diamonds, Mr. Speaker.
This visit is an opportunity for us to promote and explore Northwest Territories business opportunities with the American Gem Society Laboratories. These include the potential development of a coordinated certificate that includes the GNWT's certification of origin and the American Gem Society Laboratories' certification for quality. We will also explore opportunities to work together on research, development and technology with respect to new diamond cuts and rough diamond tracking.
The Government of the Northwest Territories looks forward to ongoing discussions with the American Gem Society Laboratories, and other prominent members of the international diamond industry, with the goal of ensuring that the NWT diamonds reach a broad market base and that our diamond industry develops to the maximum benefit of the Northwest Territories. Thank you, Mr. Speaker.
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