Some of the world's major jewellery traders have spoken of the difficult economic climate affecting the industry during the BaselWorld jewellery trade show in Switzerland.

Members of the executive committee, who organised the seven day show (April 3rd until April 10th), emphasised the harsh world economic and political situation.

Rene Kamm, chief executive of Swiss Exhibition Limited, said that the war in Iraq would undoubtedly affect the outcome of business transactions at the show, as well as shaping the global market in general.

'The worldwide economy is in flux and consumers are quite rightly undergoing a certain lifestyle appraisal, the war in Iraq started two weeks before our show opening, and last but not least in Asia a severe form of pneumonia appeared in the last few weeks,' he explained.

Other international representatives painted a similarly gloomy picture with Gianni Cacchione, presenting the Italian jewellery exhibitors, confirming that the terrorist attacks of September 11th continued to impact on business in his country.